A Concentration of Firms in a Particular Location Is Called

question 55

Multiple Choice

A concentration of firms in a particular location is called ______.

• A)an association
• B)a concentration
• C)a grouping
• D)a clustering

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Definitions:

Implied Warranty

A legal term indicating that a product is guaranteed to function as it is supposed to, even if not explicitly stated.

Warranty Of Fitness

A guarantee that a product will meet a buyer's specified needs and expectations.

Express Warranty

A written guarantee, issued to the purchaser of an item, promising to repair or replace it if necessary within a specified period.

Trade Usage

Customary practices and norms adopted by a particular industry or commerce sector that can influence the interpretation and enforcement of contracts.