A Person Has the Capacity to Act as an Agent

question 19

True/False

A person has the capacity to act as an agent only if he/she has the legal capacity to contract.

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Definitions:

Y Axis

The vertical axis in a graph or chart, typically used to represent the range of a second variable in comparison to the first variable on the X axis.

Demand Curve

A graphical representation of the relationship between the price of a good and the quantity demanded.

Movement

Refers to a change in position, location, or state of an object or concept over time.

Substitute Goods

These are goods that can be used in place of one another, such that the increase in price of one leads to an increase in demand for the other.