Solved

Use the Following to Answer Questions

question 157

Multiple Choice

Use the following to answer questions :
Figure: Shifts in Demand and Supply II
-(Figure: Shifts in Demand and Supply II) Look at the figure Shifts in Demand and Supply II. The graph shows how supply and demand might shift in response to specific events. Suppose consumer incomes decrease. Which panel BEST describes how this will affect the market for used clothing, an inferior good?

Identify and explain the legal doctrine of promissory estoppel and its application.

Differentiate between liquidated and unliquidated debts and their implications on accord and satisfaction.

Recognize exceptions to the rule requiring consideration, including promissory estoppel and modifications under the UCC.

Distinguish between bilateral and unilateral contracts and their respective considerations.

Definitions:

Unconditional Positive Regard

According to Carl Rogers, a caring, nonjudgmental attitude of total acceptance toward another person; Rogers believed that this attitude, used in therapy, would help clients develop self-awareness and self-acceptance.

Free Association

A psychoanalytic technique in which a patient says whatever comes to mind without censoring themselves, used to explore unconscious thoughts and feelings.

Executive Personality

A term often referring to individuals who demonstrate leadership qualities, decision-making capability, and a proactive approach in handling tasks and challenges.

Superego

In Freudian psychoanalysis, the part of a person's mind that acts as a self-critical conscience, reflecting social standards learned from parents and teachers.