A Group of Buyers and Sellers of a Particular Good

question 251

Multiple Choice

A group of buyers and sellers of a particular good or service is called

• A)a coalition.
• B)an economy.
• C)a market.
• D)a competition.

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Definitions:

Forgery

The illegal act of creating, altering, or imitating objects, documents, or signatures with the intention to deceive.

Federal Common Law

Federal common law refers to laws developed by Federal courts in the absence of detailed statutory guidance, often based on precedent or principles derived from the U.S. Constitution.

Vicariously Liable

The legal principle where one party is held liable for the actions of another party, such as an employer for the acts of its employees.

Mental Fault

A legal concept referring to the intentional or reckless state of mind of a defendant necessary for certain offenses or torts.