Which of the Following Is a Characteristic of an Implicit

question 4

Multiple Choice

Which of the following is a characteristic of an implicit contract?

• A)It is an understanding between parties in a business relationship
• B)It is generally enforceable in court
• C)The threat of losing future business makes implicit contracts not viable
• D)They are typically used in firms that have little relationship with one another
• E)It is an alternative agreement method to the Keiretsu understandings between members

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Definitions:

Shopping Products

Goods that consumers spend a considerable amount of time and effort in selecting and purchasing, such as clothes, electronics, and furniture.

Unsought Products

Items that the consumer does not know about or knows about but does not initially want.

Impulse Buys

Purchases made spontaneously without prior planning, often triggered by emotions or the strategic placement of products.

Product Life Cycle

The progression of a product through stages including introduction, growth, maturity, and decline.