A Transfer of Possession,but Not Title,is Called

question 53

Multiple Choice

A transfer of possession,but not title,is called:

• A) a bailment.
• B) an option to purchase.
• C) a gift
• D) all of the above.

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Definitions:

Total Utility

The total satisfaction or benefit received by consuming a specific quantity of a good or service.

Units of Utility

A measure of satisfaction or pleasure that a consumer receives from consuming a product or service.

Utility

In economics, a measure of satisfaction or happiness that a consumer derives from the consumption of goods and services.

Satisfaction

The fulfillment of one's needs or the pleasure derived from consuming goods or services.