Which of the Following Statements Is True of Strict Products

question 51

Multiple Choice

Which of the following statements is true of strict products liability?

• A) It only applies to the sale of unreasonably dangerous defective products.
• B) A product does not need to be defective for strict product liability to be applicable.
• C) It does not apply to commercial sellers.
• D) It is applicable only when a product has more than one usage.
• E) It protects businesses from economic losses due to defective products.

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Definitions:

Industry Standard

A set of criteria within an industry that acts as an agreed-upon norm or benchmark for products, services, and processes.

Economies of Scale

A concept in economics where increasing the scale of production leads to a decrease in the average cost of each unit produced.

Natural Monopolies

Industries in which high infrastructure costs and other barriers make it efficient for a single company to supply all of the market's needs.

Output

The total quantity of goods or services produced by an individual, firm, or country over a specified period.