If the Demand for a Consumer Good Decreases, the Demand

question 93

Multiple Choice

If the demand for a consumer good decreases, the demand for resources required to make the good will

• A) increase.
• B) remain the same, but the quantity demanded will increase.
• C) decrease.
• D) increase or decrease depending on whether the demand for the product is elastic or inelastic.

Understand the distinction between different types of beneficiaries in contract law.

Grasp the impact of the UCC on contract assignments and third party rights.

Recognize the conditions under which contract rights are assignable.

Understand the legal effects of an assignee's standing and the principle of "stepping into the shoes" of the assignor.