In the Legal Sector, Some Practice Areas Have Declined in Recent

question 102

Multiple Choice

In the legal sector, some practice areas have declined in recent years.For example, personal-injury and medical-malpractice cases have been undercut by state laws limiting class-action suits, out-of-state plaintiffs, and payouts on damages, and securities class-action litigation has declined in part because of a buoyant stock market.How does this affect the market for lawyers?

• A)The demand for lawyers shifts to the left.
• B)The supply of lawyers shifts to the left.
• C)The quantity of lawyers demanded decreases and this is represented by a movement along the demand curve.
• D)Both the demand and supply curves decrease.

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Definitions:

Employer

An individual or entity that hires and pays employees for their labor or services within an organization.

Profession

A type of job that requires specialized education, training, and qualifications, often with a commitment to a specific code of ethics.

Electronic Substitute

A digital alternative to traditional paper-based methods, forms, or tools.

Keep Track Of

Refers to the process of monitoring or recording information or progress systematically.