The Money Price of a Good Is Also Known as Its

question 144

Multiple Choice

The money price of a good is also known as its

• A)absolute price.
• B)subjective price.
• C)relative price.
• D)case price.

---

Definitions:

Good Faith

A fundamental principle in contracts requiring parties to deal with each other honestly and without ulterior motives.

Uniform Commercial Code

A comprehensive set of laws governing commercial transactions in the United States, aimed at harmonizing state laws.

Enforcement

The act of compelling compliance with a law, rule, agreement, or order through the application of penalties for violations.

Conforming Goods

Products that meet the specifications and requirements set forth in a contract of sale.