A Factor Market Is Any Place or Process Where

question 51

Multiple Choice

A factor market is any place or process where

• A)Finished goods are bought and sold.
• B)Land,labor,or capital is bought and sold.
• C)Finished services are bought and sold.
• D)None of the choices are correct.

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Definitions:

Express Contract

A contract in which all the terms are clearly set forth in either written or spoken words.

Dental Emergency

A sudden, urgent medical condition related to the teeth or gums requiring immediate treatment to relieve pain or risk of serious complication.

Legally Binding Contracts

Legally binding contracts are agreements recognized by law as enforceable, having all legal elements like offer, acceptance, consideration, and capacity.

Age of Majority

The legally recognized threshold of adulthood when individuals are considered capable of managing their own actions and decisions, including entering into contracts.