What Is a Marriage Contract

question 17

Multiple Choice

What is a marriage contract?

• A)It is the contract implied when people marry each other.
• B)It is usually drawn up by common-law spouses to protect their property rights.
• C)It is a method of ensuring a fair division when a partner's financial situation changes.
• D)It is a legal document that alters the effect of the law.

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Definitions:

Market Share

The percentage of total sales or revenue generated by a company within a particular market relative to its competitors.

Excise Tax

A tax levied on the production of a specific product or on the quantity of the product purchased.

Tax Revenues

The income that is gained by governments through taxation, an important source of revenue for government expenditures.

Inelastic Demand

A situation in which the demand for a product does not significantly change with a change in its price.