Professional Misconduct or Negligence-The Failure to Exercise Due Care-On the Part

question 42

Multiple Choice

Professional misconduct or negligence-the failure to exercise due care-on the part of a professional, such as an attorney or a physician, is called:

• A)Disbarment
• B)Malpractice
• C)Suspension
• D)Damages

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Definitions:

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service relative to what they actually pay.

Producer Surplus

The difference between what producers are willing to sell a good for and the actual price they receive, reflecting the producer's benefit.

Crude Oil

A naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials used as a fuel and in the production of chemicals, plastics, and other materials.

Tariff

A tax imposed on imported goods and services to increase their price, protect domestic industries, or generate revenue.