The Concept of Scarcity Indicates That

question 120

Multiple Choice

The concept of scarcity indicates that:

• A) most goods have no alternative uses.
• B) almost all goods have alternative uses.
• C) most decisions can be made without sacrificing alternatives.
• D) certain societies are able to overcome the constraints imposed by alternative uses of resources.

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Definitions:

Contributorily Negligent

Refers to a situation where the plaintiff is found to have played a part in their own harm, potentially reducing the compensation they receive.

Duty of Care

A legal obligation to adhere to a standard of reasonable care while performing acts that could foreseeably cause harm to others.

Res Ipsa Loquitor

A legal doctrine allowing the presumption of negligence by the defendant when the accident could not have happened without negligence.

Defective Product

An item that fails to function as intended due to a flaw in design, manufacture, or marketing, presenting potential harm to users.