Which of the Following Is an Economic Need Which Helps

question 8

Multiple Choice

Which of the following is an economic need which helps explain why consumers choose a particular retailer?

• A) Prestige
• B) Status
• C) Comfort
• D) Value
• E) Safety

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Definitions:

Debt of Another

Debt of another involves liabilities or obligations that one party assumes on behalf of another party, typically through a guarantee or cosigning arrangement.

Uniform Electronic Transactions Act

A law adopted by many states in the U.S., which gives legal validity to electronic signatures and records in commercial transactions.

Statute of Frauds

A legal principle that requires certain types of contracts to be in writing and signed to be enforceable.

Parol Evidence Rule

A legal principle in contract law that prevents parties from presenting extrinsic evidence of prior or contemporaneous negotiations to alter or contradict the terms of a written agreement.