For a Court to Be Able to Provide a Ruling

question 15

Multiple Choice

For a court to be able to provide a ruling in the case, there must be an adverse relationship between the parties, the action must give rise to an actual legal dispute and the courts must have the ability to render the decision that will resolve the dispute and not be a hypothetical situation. This is known as ________.

• A) case or controversy
• B) mootness
• C) ripeness
• D) venue
• E) compulsory

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Definitions:

Arbitrage

A means to defeat a price discrimination scheme; it occurs when low-value individuals are able to resell their lower-priced goods to the higher-value group.

Low-value Group

A segment of the market or population perceived to have less purchasing power or economic importance.

Direct Price Discrimination

A pricing strategy where a seller charges different prices to different customers for the same product or service, based explicitly on the customer's willingness to pay.

Indirect Price Discrimination

A pricing strategy where different prices are charged for the same product or service in different markets or segments, not directly by customer characteristics.