A Written Note or Letter in Which One Person Promises

question 27

Multiple Choice

A written note or letter in which one person promises to pay a certain amount of money to another at a definite time is known as a:

• A) cashier's check.
• B) promissory note.
• C) certified check.
• D) demand draft.

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Definitions:

Graph (a)

A graph is a visual representation of relationships between two or more variables or sets of data, often using lines, bars, or points in a two-dimensional or three-dimensional space.

Price Control

Government-imposed limits on the price charged for commodities and services in an effort to curb inflation or ensure affordability.

Public's Need

Refers to the essential goods, services, and conditions necessary for the well-being of a community or population.

Equilibrium Price

The cost point where the amount of a product or service that buyers want to purchase is the same as the amount sellers are willing to offer, creating a balanced market situation.