The Use of Lawyers by Business Managers to Help Them

question 16

Multiple Choice

The use of lawyers by business managers to help them plan avoidance of business emergencies and to comply with the rapidly growing mass of legal rules imposed on business operations by government bodies is called _____.

• A) common law
• B) preventive law
• C) criminal law
• D) substantive law

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Definitions:

Demand Curve

A graph showing the relationship between the price of a good and the amount of the good that consumers are willing to purchase at that price, ceteris paribus.

Zero Price

Refers to a situation where a good or service is offered without requiring payment; often to promote sharing or distribution efficiency.

Marginal Utility

The supplementary satisfaction or advantage a consumer experiences by using one more unit of a good or service.

Diminishing

Refers to the principle where additional units of input result in progressively smaller increases in output, often applied in the context of diminishing marginal returns in production.