Due Care Is

question 30

Multiple Choice

Due care is

• A) based on the principle of caveat emptor.
• B) based on the principle "let the buyer beware".
• C) the idea that consumers and sellers do not meet as equals and that consumer's interests are particularly vulnerable to being harmed by the manufacturer.
• D) based on the principle of absolute liability.

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Definitions:

Product

Any item or service that is created through a process and is offered for sale to consumers.

Resources

Inputs used in the production of goods and services, such as labor, capital, land, and technology.

Prices

The monetary values attached to goods, services, or resources, determined by factors like supply, demand, production cost, and market conditions.

Price of Paper

The cost at which paper is sold, influenced by factors like demand, supply, production costs, and market conditions.