An Indication Made by the Offeree That He or She

question 45

Multiple Choice

An indication made by the offeree that he or she agrees to be bound by the terms of the offer is known as:

• A) an enforceable offer.
• B) a mutual agreement.
• C) free consent.
• D) acceptance.

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Definitions:

Rupees

The official currency of India, also used as currency in other countries such as Pakistan, Nepal, and Sri Lanka.

United States Imports

Goods and services brought into the United States from other countries for sale or use.

Comparative Advantage

The ability of a country or individual to produce a particular good or service at a lower opportunity cost than its trade partners.

Heckscher-Ohlin Theorem

A theory that explains the existence of a country’s comparative advantage by its factor endowments: A country has a comparative advantage in the production of a product if that country is relatively well endowed with inputs used intensively in the production of that product.