If the Buyer Relies on the Seller's Skill or Judgment

question 11

Multiple Choice

If the buyer relies on the seller's skill or judgment to select the goods for that purpose, an implied warranty ____is created.

• A) no implied warranty is created in this situation
• B) that the goods are not suited for that purpose
• C) that the goods are suited for that purpose
• D) that the goods will last for at least a year
• E) that the goods will be reasonably priced

Understand the critique of urban theories and their implications on urban life.

Identify the processes and theories surrounding population change and urbanization.

Recognize the significance of social issues related to urbanization and population dynamics.

Understand the different types of concepts (formal, natural, and prototypes) and their uses in categorization.

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Definitions:

Liabilities

A debt owed by a business to another organization or individual.

Assets

Resources owned by a business or individual that have economic value and can provide future benefits.

Venture Capitalist

An investor who provides capital to startup ventures or supports small companies that wish to expand but do not have access to equities markets.

Emerging Businesses

Companies in the early stages of operation, often characterized by rapid growth and development in its sector.