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In microeconomics, the law of demand is a fundamental principle which states that there is an inverse relationship between price and quantity demanded. In other words, "conditional on all else being equal, as the price of a good increases (↑), quantity demanded will decrease (↓); conversely, as the price of a good decreases (↓), quantity demanded will increase (↑)". Alfred Marshall worded this as: "When then we say that a person's demand for anything increases, we mean that he will buy more of it than he would before at the same price, and that he will buy as much of it as before at a higher price". The law of demand, however, only makes a qualitative statement in the sense that it describes the direction of change in the amount of quantity demanded but not the magnitude of change.
Short order cooks cook quick meals at a restaurant and prepare many meals simultaneously. Unlike line cooks, they are assigned to specific stations where they complete one part of a meal at a time.
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Legislative or Law-making Functions: The first and foremost function of a legislature is to legislate i.e. to make laws. In ancient times, laws used to be either derived from customs, traditions and religious scriptures, or were issued by the kings as their commands.
Answer: The UCC applies to the sale of goods and securities, whereas the common law of contracts generally applies to contracts for services, real estate, insurance, intangible assets, and employment. If the contract is for both the sale of goods and for services, the dominant element in the contract controls.
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