Mrs. Smith is moving out of her personal residence to a smaller apartment. Because of this, she
wishes to sell her piano. George inspects her piano and decides to buy it. Mrs.
Smith receives
her money and tells George he can take the piano right now. George says he needs to borrow
his friend's truck before he can remove the piano. That night, the piano is destroyed by fire.
George sues to recover his money. Which best describes this situation?
A) Mrs. Smith wins. The risk of loss passed to George when Mrs. Smith said he could take
the piano.
B) George wins. The risk of loss does not pass until George receives a negotiable warehouse
receipt.
C) Mrs. Smith wins. The risk of loss passed to George as soon as the contract was made.
D) George wins. The risk of loss does not pass until George takes delivery of the piano.
A
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Which of the following statements is true of the approaches to marketing strategy?
A) Intrepreneurial marketing applies to companies that sometimes lose their marketing creativity and passion that they had at the start. B) As small companies achieve success, they inevitably move away from more-formulated marketing. C) Within a company, a single strategy exclusively applies to all different businesses and products. D) Formulated marketing seldom involves developing formal marketing strategies and adhering to them closely. E) Formulated marketing encourages more marketing initiative and "intrepreneurship" at the local level.
Which of the following is an example of a need?
A) Cara prefers working out at an indoor gym. B) Aisha feels connected when she has her cellphone on. C) Adam is hungry. D) Shul has to complete his essay for tomorrow's class. E) Oliver is looking for a new pair of Nike running shoes.