Which of the Following Is NOT One of the Three

question 6

Multiple Choice

Which of the following is NOT one of the three ways to amend a written contract?

• A)by writing and signing an amendment (or rider)
• B)by verbally agreeing to the changes and shaking hands on the deal
• C)by crossing out the mistakes and writing in the corrections
• D)by writing a totally new contract with the correct provisions

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Definitions:

Supply

The total amount of a specific good or service that is available to consumers.

Demand Determined

Refers to situations where the quantity of a good or service produced is directly influenced by consumer demand.

Government-imposed Maximum Price

A legally set ceiling on the price at which a good or service can be sold, typically to protect consumers from excessively high prices.

Economic Impact

The effect of an event, policy, or market condition on the economy, which can be observed in changes to GDP, employment, or investment.