Although There Are Some Exceptions, A[n] ________ Mistake Does Not

question 63

Multiple Choice

Although there are some exceptions, a[n] ________ mistake does not generally void a contract.

• A) Unclear
• B) Mutual
• C) Unilateral
• D) Clear
• E) Single

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Definitions:

Market Economy

An economic system in which economic decisions and the pricing of goods and services are guided solely by the interactions of citizens and businesses.

Equilibrium Quantity

At the market equilibrium price, the amount of goods or services that are supplied matches the amount that is demanded.

Equilibrium Price

A pricing point in the market where the supply of goods meets the demand for those goods.

Equilibrium Quantity

The quantity of goods or services that is supplied and demanded at the equilibrium price, where supply equals demand in a market.