What Would Be an Example of Consumption Service

question 179

Multiple Choice

What would be an example of consumption service?

• A) Rhianna gets a haircut.
• B) Jake buys an iPhone.
• C) Antonio, the manager of the local Taco Hut, purchases a new deep fryer.
• D) The local driver's license office purchases a new digital camera and printer.
• E) Donald Trump purchases furniture for his office.

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Definitions:

Interest Rate

An Interest Rate is the percentage charged on the total amount of borrowed money or paid on savings, over a specific period of time.

Legally Binding

A term applied to agreements or contracts that have legal force, meaning they are enforceable by law.

Contracts

Legally enforceable agreements between two or more parties that create mutual obligations.

Minor

A person under the legal age of majority, typically under 18 years old, who has certain restrictions on their legal capabilities such as entering into contracts.