Name two of the five indicators of market potential and provide an example of each
What will be an ideal response?
Student answers will vary. The five indicators of market potential include demographic characteristics, geographic characteristics, economic factors, sociocultural factors, and political and legal factors.
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Which of the following is true of an illegal consideration?
A) Contract requires that either both parties suffer legal detriment. B) Contract requires that the promisor receives a legal benefit. C) Contract requires that the promisee suffer a legal detriment. D) Contracts based on illegal consideration are void.
Which of the following must be present in order for a business to successfully rely on the
defence of voluntary assumption of risk? A) the exact nature of the risk must be clear to the customer B) the activity being engaged in by the customer must not be high risk C) the customer must have paid adequate consideration for participating in the activity D) the risk must be one which other customers have been willing to assume E) All of the above