Gary Threatens Physical Harm to Force Hugh to Sell His

question 22

Multiple Choice

Gary threatens physical harm to force Hugh to sell his business,Imports from Asia,Inc.,to Gary for a below-market price.This is

• A)duress.
• B)fraud.
• C)puffery.
• D)undue influence.

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Definitions:

Productive Resource

An economic term for the inputs used in the production of goods or services in the attempt to make an economic profit.

Inelastic

Describing a situation where the demand or supply for a good or service is not highly sensitive to changes in price.

Loan Interest

The additional amount paid by a borrower to a lender in exchange for the use of borrowed money, often expressed as an annual percentage rate.