Which of the following is an example of a type of construction contract?

The example of a type of construction contract that includes fixed-price and cost-plus contracts is a broad and commonly used categorization in the construction industry. Fixed-price contracts are agreements where the contractor is paid a set amount regardless of the actual costs incurred, providing budget certainty for the owner. In contrast, cost-plus contracts reimburse the contractor for their allowable costs plus an additional amount for profit, allowing for flexibility regarding changes and unforeseen expenses during the project. This combination highlights the varying structures of contracts that can be utilized in the construction sector, addressing different project needs and risk distributions.

Other options do not present a comprehensive depiction of standard construction contracts. While time-based contracts may represent a form of contractual agreement, they lack the clarity and recognition of fixed-price and cost-plus arrangements in construction discussions. Public relations contracts are unrelated to construction specifics and cover different sectors entirely. Performance-based contracts may be effective in certain scenarios but are considered a specialized approach rather than an encompassing category like fixed-price and cost-plus, which are foundational to understanding construction contracts.