An Offer Does NOT Need to Be Communicated to the Offeree

question 18

True/False

An offer does NOT need to be communicated to the offeree to become effective. 

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Definitions:

Consumer Sovereignty

The idea that consumers ultimately dictate what will be produced (or not produced) by choosing what to purchase (and what not to purchase).

Economic Problem

The issue of limited resources to meet unlimited wants and needs, requiring choices and prioritization.

Centralized Decision Making

A process where decisions are made by a few people or a single authority, rather than being dispersed among many.

Destroy Incentives

To eliminate or significantly reduce the motivations or reasons for individuals or entities to take a particular action or endeavor.