An)_____ Contract Is One in Which the Terms Are Spelled

question 22

Multiple Choice

An) _____ contract is one in which the terms are spelled out directly and the parties are conscious that they are making an enforceable agreement.

• A)quasi-
• B)implied
• C)express
• D)voidable
• E)void

---

Definitions:

Consumption Component

The part of total economic output that is used by individuals and households for personal needs and wants.

Additions to Inventory

Increases in the quantity of goods held by a company during a particular period, often for future sale or production use.

Reductions in Inventory

Decreases in the quantity of goods that a company holds, which can indicate stronger sales or a preparation for lower demand.

Investment Component

A part of economic theory that represents funds allocated towards investment products or goods with the expectation of future returns or income.