List and briefly describe the seven key characteristics that must be present for a contract to be enforceable
• Offer. All contracts begin when a person or a company proposes a deal.
• Acceptance. Once a party receives an offer, he or she must respond to it in a certain way.
• Consideration. There has to be bargaining that leads to an exchange between the parties.
• Legality. The contract must be for a lawful purpose.
• Capacity. The parties must be adults of sound mind.
• Consent. Certain kinds of trickery and force can prevent the formation of a contract.
• Writing. While verbal agreements are often contracts, some types of contracts must be in writing to be enforceable.
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In a means-end chain for milk, the calcium content of milk leads to healthier bones, which leads to a display of wisdom and a comfortable life free of osteoporosis
The display of wisdom and a comfortable life component of the means-end chain is the: A) product attribute B) consumer benefit C) leverage point D) personal value
When getting ready to deliver a presentation, which of the following can be used to create positive energy?
A) Music B) Anxiety C) Lighting D) Knowledge E) Eye contact
Myrid Inc sells each crystal goblet that it produces for $75. The contribution margin per goblet is $20. Total monthly fixed costs are estimated to be $82,600. How many units should Myrid sell in a month to breakeven? (Round your answer to the nearest whole number.)
A) 4,130 goblets. B) 1,101 goblets. C) 1,502 goblets. D) 869 goblets.
Elaborate statistical analysis, in the form of ____________, is sometimes used to aid decisions on where to locate supermarkets and similar large stores relative to prospective customers' homes and workplaces
a. binary regression b. cluster analysis c. structural equation models d. gravity models e. predictive models