Class-Action Lawsuits Are Suits in Which a Number of Persons

question 15

True/False

Class-action lawsuits are suits in which a number of persons join together to bring an action.

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Definitions:

Excess Supply

a situation where the quantity of a good or service supplied in a market exceeds the quantity demanded at the current price, leading to downward pressure on the price.

Property Rights

Legal rights to possess, use, and dispose of assets including real estate, intellectual property, and tangible goods.

Economic Efficiency

A measure of how well scarce resources are utilized for producing goods and maximising the satisfaction or utility of consumers.

Market Equilibrium

A condition where the supply and demand in the market equilibrate, leading to stable prices.