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A Need Is a Specific Desire That Spells Out a Way

question 98

True/False

A need is a specific desire that spells out a way a consumer can go about addressing a recognized want.


Definitions:

Specified Means

A clearly defined method or procedure outlined for achieving a given end or goal.

Mailbox Rule

A legal principle that considers a contract offer accepted once the acceptance letter is dispatched, not when it is received by the offeror.

Effective Revocation

The successful cancellation or withdrawal of a legal right, offer, or agreement, communicated in a manner recognized by law.

Option Contract

A contract that gives the holder the right, but not the obligation, to buy or sell an underlying asset at a specified price on or before a specified date.

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