The Number of Brands of Identical Products Will Most Likely

question 73

Multiple Choice

The number of brands of identical products will most likely increase as

• A) the number of informed consumers increases.
• B) the cost of producing many brands decreases.
• C) the number of uninformed consumers decreases.
• D) None of the above.

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Definitions:

Time is of the Essence

A clause in contracts that specifies that exact times and dates are crucial and non-adherence to them constitutes a breach of contract.

Strict Performance

A legal standard requiring parties to a contract to fulfill their obligations exactly as specified in the contract, without deviation or error.

Express Condition

A specific condition explicitly stated in a contract that must be fulfilled for the contract's obligations to be performed.

Condition Subsequent

A condition that operates to relieve or discharge one from his obligation under a contract.