When the Offeror Does Not Specifically Indicate What He/she Was

question 23

Multiple Choice

When the offeror does not specifically indicate what he/she was willing to do and what he/she wanted the offeree to agree to do in return,his/her behavior will probably be classed as:

• A)a quasi-contract.
• B)an offer.
• C)an invitation to negotiate.
• D)an invitation to bid.

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Definitions:

Price Discrimination

Price discrimination is the strategy of selling the same product at different prices to different groups of consumers, often based on their willingness to pay, location, or purchase volume.

Disguised Subsidy

Financial support given to industries or businesses in indirect ways, not easily identifiable as traditional subsidies, to lower their costs or increase their competitiveness.

Consumer Surplus

The gap between the total sum consumers are prepared and financially able to spend on a good or service and the sum they actually spend.

Legal

Pertaining to or conforming to the laws of a country or the legality of a situation or activity.