If an Agent's Act Causes Loss to the Third Person

question 52

True/False

If an agent's act causes loss to the third person, that third person may generally hold the agent liable for the loss.

---

Definitions:

Level of Competition

Describes the intensity and number of competitors in a market, which can influence pricing, product innovation, and consumer choice.

Profitability

The degree to which a business or activity yields profit or financial gain.

Oligopolists

Firms within a market structure characterized by a small number of large firms controlling the market, often leading to limited competition.

R&D

Stands for Research and Development; it involves activities undertaken by businesses and organizations to innovate and introduce new products or services.