Examlex

Solved

Which of the Following Principles Do the Court Not Need

question 17

Multiple Choice

Which of the following principles do the court not need to take into account when deciding whether or not a public or other authority has a duty or has breached a duty of care?


Definitions:

Perfectly Inelastic

A demand situation where the quantity demanded does not change in response to price changes.

Elastic

A characteristic of a demand or supply curve which shows a high responsiveness to changes in price.

Inelastic

Refers to a condition in which the demand or supply of a product or service remains largely unaffected by variations in its price.

Pure Monopolist

A market scenario where a single company or entity exclusively controls the entire supply of a particular product or service, without any close substitutes or competition.

Related Questions