A Tendency for a Good to Come into Favor with Consumers

question 125

Multiple Choice

A tendency for a good to come into favor with consumers because other consumers have chosen to buy the item is

• A) price-leadership.
• B) a negative-sum game.
• C) positive market feedback.
• D) negative market feedback.

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Definitions:

Mutual Mistake

An error shared by all parties to a contract, concerning a basic assumption on which the contract was based, that has a material effect on the agreed performance.

Standard-Size

Referring to items or products that are made to a specific, uniform set of dimensions or measurements to ensure consistency and compatibility.

Legal Assent

A mutual agreement under contract law wherein all parties involved acknowledge and adhere to the terms of a contract, making it legally binding.

Scienter

Knowledge of wrongdoing or fraudulent intent, often a necessary element in fraud cases.