In Contracting to Buy a Car, You Agree to Exchange

question 29

Multiple Choice

In contracting to buy a car, you agree to exchange money you otherwise would not have to give the dealer in exchange for title and possession of a car the dealer would not otherwise have to give you. This is an example of the _____ requirement of a valid contract.

• A) mutual assent
• B) legality
• C) capacity to enter into a contract
• D) consideration

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Definitions:

Corporate Culture

The shared values, beliefs, ethics, and practices that characterize an organization and guide its employees' behavior.

Environmental Opportunities

Circumstances in the external environment that a business can leverage to its advantage for growth or improvement.

Product Life Cycle

Product life cycle is the series of stages a product or service goes through in the ‘life’ of its marketability.

Defender Strategies

Approaches used by organizations to protect their existing market share by improving efficiency and product quality, while not seeking to aggressively expand.