Alex Is Asked by Greta Why Minors Cannot Generally Be

question 25

True/False

Alex is asked by Greta why minors cannot generally be sued for breach of contract. "It's because they don't have much money, usually, and it would be unfair to let a big corporation take it away from them," he says.

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Definitions:

Price Elasticity

An evaluation of consumers' reaction in terms of the quantity of a good they demand when its price changes, indicating their price sensitivity.

Quantity Supplied

The amount of a good or service that producers are willing and able to sell at a specific price over a given period of time.

Price Rise

An increase in the cost of goods or services, often influenced by factors like supply and demand, inflation, or production costs.

Supply Elasticity

The degree to which the supply of a commodity reacts to shifts in its market price.