A Third Party,who Is Not Part of an Original Contract,but

question 4

Multiple Choice

A third party,who is not part of an original contract,but to whom a duty to perform contained in the original contract is transferred,is called a[n] .

• A)Delegator
• B)Assignee
• C)Assignor
• D)Transferor
• E)Delegatee

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Definitions:

Market Economy

An economic system where decisions regarding investment, production, and distribution are based on supply and demand, with minimal governmental intervention.

Distribution of Output

The way total production is spread across different agents or locations in the economy.

Consumer Needs

Fundamental requirements that motivate consumer behaviors and decisions in the marketplace.

Production Costs

The total expenses incurred in the manufacturing or production of goods, including raw materials, labor, and overhead costs.