The Mutually Understood Customs the Two Parties Involved in a Transaction

question 7

Multiple Choice

The mutually understood customs the two parties involved in a transaction follow from experience are known as _____.

• A)focal points
• B)norms
• C)cores
• D)strategies

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Definitions:

Newspaper

A printed or digital publication that provides news, articles, features, and advertisements, typically published daily or weekly.

Mass Media

Forms of communication, such as television, newspapers, and the internet, that reach large audiences.

Economic Needs

Essential requirements for an individual or society to maintain a minimum standard of living, including food, shelter, clothing, and healthcare.

Political Needs

The requirements necessary for the governance and wellbeing of a society, including stability, participation, and the enforcement of legal norms.