According to the Theory of Strict Liability,anyone Who Sells a Product

question 55

True/False

According to the theory of strict liability,anyone who sells a product that is defective or unreasonably dangerous is subject to liability for any physical harm caused to the user,the consumer,or the property of either.

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Definitions:

Adam Smith

An 18th-century Scottish economist and philosopher best known for his theories on free market economies, depicted in "The Wealth of Nations."

Profit

The financial gain that is realized when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.

Mechanistic Organization

A highly structured, rigid, and bureaucratic form of organization based on centralized authority and a hierarchical line of command.

Leadership Role

A position of influence and responsibility where an individual guides and directs a group towards achieving a common goal.