A Writ of Execution as Used in Civil Law Litigation

question 9

Multiple Choice

A writ of execution as used in civil law litigation allows:

• A) the plaintiff to demand payment from the defendant of a judgment won in court.
• B) the governor of a state to demand execution of a convicted felon who has received a death sentence by a jury.
• C) the clerk of court to issue a demand for a new trial.
• D) the plaintiff, without further process, to obtain a portion of the defendant's wages.

---

Definitions:

Profit

The financial gain realized when the revenue gained from a business activity exceeds the costs, expenses, and taxes needed to sustain the activity.

Normal Profit

The minimum level of profit necessary for a firm to remain competitive in the market, essentially covering opportunity costs.

Equilibrium Price

The price at which the quantity of goods supplied equals the quantity of goods demanded in a market.

Purely Competitive Industry

A purely competitive industry is characterized by many buyers and sellers, homogenous products, and free entry and exit from the market, ensuring no single entity can control the market price.