Which of the Following Scenarios Shows How a Product Is

question 77

Multiple Choice

Which of the following scenarios shows how a product is improved by modifying a product attribute?

• A)An aerated drinks manufacturer reduces the price of one of its drinks due to low sales.
• B)A large spa in Reno begins advertising its services on the Internet.
• C)A dairy products manufacturer changes the promotion strategy of its line of processed cheese.
• D)A company that sells packaged seafood adds an eco-friendly label to its packaging.

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Definitions:

Consideration

Something of value given by both parties to a contract that induces them to enter into the agreement to exchange mutual performances.

Hamer v. Sidway

A significant case in contract law that established the notion that forbearance (refraining from doing something) can be considered a valuable consideration in a contract.

Sufficient Consideration

A necessary element in contract law where something of value is exchanged between parties to form a valid contract.

Illusory Promises

Statements or promises that appear to assure performance or commitment but, due to vague or conditional terms, do not actually bind the promisor to any action.