Match Each Definition That Follows with the Term (A-E) It

question 52

Multiple Choice

Match each definition that follows with the term (a-e) it defines.
-Sets the price according to competitors

• A)Demand-based concept
• B)Competition-based concept
• C)Product cost concept
• D)Target costing
• E)Production bottleneck

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Definitions:

Real Estate

Property consisting of land and the buildings on it, along with its natural resources.

Consideration

In contract law, the benefit or value that is exchanged between parties in a contract, making it binding and legally enforceable.

Deed of Trust

A document that conveys title to real property to a trustee as security for a loan until the grantor (borrower) pays the lender according to the terms of a loan.

Mortgage

A loan secured by the collateral of real estate property, where the borrower is obliged to pay back with a predetermined set of payments.