If a Gift Card Is Unused After a Specified Period

question 90

Short Answer

If a gift card is unused after a specified period of time, the state can collect the amount of the card proceeds from the seller as ____________________ property.

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Definitions:

Property Rights

The legal rights to possess, use, and dispose of assets, including real estate, intellectual property, and personal possessions.

MSC

The marginal social cost of producing one additional unit of a good or service, which includes both the private cost and any external costs to society.

MC

Marginal cost; the cost incurred by producing one additional unit of a product.

External Cost

Costs that are not borne by the parties involved in an economic transaction but are suffered by other members of society.