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.

---

Definitions:

Median

The median is the central number in a sequence of values, dividing the higher half and the lower half of the data set.

Real Estate

Property consisting of land and the buildings on it, along with its natural resources, such as crops, minerals, or water; immovable property of this nature.

Apartments

Residential units in a building or complex, typically owned or rented as homes.

Database

A database is an organized collection of data, generally stored and accessed electronically from a computer system, allowing for data retrieval and management.