Which of the Following Is NOT an Example of a Market

question 231

Multiple Choice

Which of the following is NOT an example of a market?

• A) neighborhood lemonade stand
• B) painting one's house
• C) ticket scalping
• D) New York Stock Exchange

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Definitions:

Gratuitous Promise

A promise for which no consideration is given; not legally binding unless put in a deed or supported by some form of consideration.

Electronic Contracts

Legal agreements formed, signed, or accepted electronically, without the use of paper or wet ink.

Unreasonable Terms

Contract terms that are deemed excessively unfair or one-sided in favor of one party, potentially leading to legal challenges.

Standard Form Contract

A pre-prepared contract where most terms are set in advance with little opportunity for negotiation by the signatory.