When an Offer Does Not Specify a Means of Acceptance

question 68

True/False

When an offer does not specify a means of acceptance, it can be accepted by any means reasonable under the circumstances.

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Definitions:

Economic Choices

Decisions made by individuals, households, or firms regarding the allocation of scarce resources to satisfy needs and wants.

Income Tax

A tax levied by governments on individuals or entities' income, constituting a major source of government funding.

Present and Future Consumption

The concept of analyzing and balancing what is consumed today against what will be available or necessary for consumption in the future.

Efficient Taxation

A taxation system designed to minimize the economic costs or distortions that it imposes on society, while achieving desired revenue and distributional effects.