Which of the Following Is Not a Product Liability Theory

question 35

Multiple Choice

Which of the following is not a product liability theory that protects buyers and allows them to recover for injury and economic loss?

• A) express warranty
• B) implied warranty
• C) strict tort liability
• D) assumption of the risk

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Definitions:

Total Utility

The overall satisfaction or value that a consumer derives from consuming a particular quantity of goods and services.

Income Redistribution

Economic policies or mechanisms aimed at leveling the distribution of wealth or income in a society by transferring money from the richer sections to the poorer ones.

Income Inequality

A measurement showing the distribution of income among individuals or households in a society that highlights the gap between the rich and the poor.

Wealth Distribution

The comparative distribution of wealth across or within nations, showing how assets or wealth are shared among the population.