According to the Class Rule of Interpretation

question 81

Multiple Choice

According to the class rule of interpretation:

• A)the meaning of a word or phrase is to be derived from the context in which it is used.
• B)where two or more specific words are followed by a general word, the general word is read down to accord with the meaning of the specific words.
• C)where the legal text expressly provides that it is to apply to certain specific things in its class, then things that are not expressly included in that class are by implication excluded.
• D)where there are two inconsistent provisions in a legal text, and one is general and the other is specific, the specific provision overrides the general provision.

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Definitions:

Decrease Buyer Power

Strategies or market conditions that reduce the negotiation leverage of buyers, enhancing the seller's position.

Command A Higher Price

Being able to sell goods or services at a price above the average due to perceived added value, quality, or brand reputation.

Resource Based Perspective

A management tool used to identify and evaluate resources within an organization to gain and sustain competitive advantage.

Elastic Demand

The characteristic of a good or service wherein its demanded quantity significantly changes due to changes in its price.