_______ Is an Estimation of What a Price Should Be

question 84

Multiple Choice

_______ is an estimation of what a price should be based on information a consumer gathered,such as advice,advertisements,or comparison shopping.

• A) An external reference price
• B) Perception of value
• C) An internal reference price
• D) Optimum price

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Definitions:

Mechanic's Lien

A legal claim against a property for unpaid construction work or supplies, giving the lienholder a right to a certain value if the property is sold.

Real Estate

Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water.

Judgment Debtor

An individual or entity ordered by a court to pay a sum of money to another as a result of a legal judgment.

Creditor

An individual or institution to whom money is owed by a debtor.