A Small Adjustment in a Choice Is Called

question 33

Multiple Choice

A small adjustment in a choice is called

• A) A marginal change
• B) An incremental change
• C) A positive change
• D) A net change

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Definitions:

Undisclosed Principal

A situation where an agent acts on behalf of a principal, but the identity of the principal is not revealed to the third party involved in the transaction.

Liquor Sale

The regulated process of selling alcoholic beverages, subject to various laws and licenses depending on the jurisdiction.

Undisclosed Principal

A situation in a business transaction where the identity of the principal (the person for whom the agent acts) is not revealed to the third party involved in the deal.

Actual Authority

The explicit power granted to an agent by a principal, allowing the agent to act on the principal's behalf.