Jen Signs a Check "Pay to the Order of Key

question 9

Multiple Choice

Jen signs a check "pay to the order of Key" drawn on Jen's account in Little Bank to buy Key's car. Jen asks Little Bank to indicate on the face of the check that it will accept it when Key presents it for payment. If the bank agrees, this will be

• A) a cashier's check.
• B) a certified check.
• C) a trade acceptance.
• D) a traveler's check.

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Definitions:

Demand

The consumer's desire to purchase goods and services and willingness to pay a price for a specific good or service.

Price Elastic

Describes a situation where the quantity demanded or supplied of a good or service changes significantly due to changes in its price. Highly elastic means a small price change makes a big difference in demand or supply.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a particular price.

Chocolate

A sweet, typically brown food preparation of Theobroma cacao seeds, roasted and ground, often flavored, as with vanilla, and used as a confection or as a flavoring ingredient.