When Plotted on a Graph,the Supply Curve and the Demand

question 198

Multiple Choice

When plotted on a graph,the supply curve and the demand curve will normally ________.

• A) run parallel to one another
• B) cross one another at some point
• C) be far apart due to the differences between supply and demand in an economy
• D) get closer together as demand increases, but never intersect

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Definitions:

Product Liability

The area of law that holds manufacturers, distributors, suppliers, and retailers accountable for any injuries their products may cause.

Commonly Known Danger

A hazard or risk that is well-known to the average individual, implying that individuals have a responsibility to protect themselves.

Assumption Of Risk

A defense against negligence that can be used when the plaintiff was aware of a danger and voluntarily assumed the risk of injury from that danger.

Strictly Liable

The legal responsibility for damages, or loss, regardless of the actor's fault or intention.