If an Offer Specifies No Time Limit in Which to Accept

question 19

Multiple Choice

If an offer specifies no time limit in which to accept:

• A)the offeree has 30 days to respond.
• B)the offeree has 10 days to respond.
• C)the offeree has a reasonable period during which to accept.
• D)the offer is not valid due to its indefiniteness, therefore the time of acceptance is irrelevant.

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Definitions:

Export

The selling of goods or services produced in one country to buyers in another country.

Import

The process of bringing goods or services into one country from another for the purpose of selling.

Domestic Price

The price at which goods or services are sold within a country's borders, unaffected by import or export tariffs.

Equilibrium Level

The state at which market supply and demand balance each other, resulting in stable prices.