Which One of the Following Would Most Likely Increase the Demand

question 68

Multiple Choice

Which one of the following would most likely increase the demand for wheat?

• A) an increase in the price of soybeans, a substitute product
• B) a decrease in the price of corn, a substitute product
• C) the development of a hybrid seed that doubles wheat yields per acre
• D) a decrease in the price of wheat

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Definitions:

Consideration

Something of value exchanged between parties in a contract, which is necessary for the agreement to be legally binding.

Legal Consideration

A value promised to another party in a contract as an inducement to enter into the contract, which must be present for the contract to be legally binding.

Right To Smoke

This term does not refer to a universally acknowledged legal right but may pertain to specific regulations or allowances within designated areas where smoking is permitted.

Proper Consideration

The legal requirement for contracts, entailing something of value being exchanged between parties.