LLBean and Lands' End Are Examples of Businesses That Sell

question 63

Multiple Choice

L.L.Bean and Lands' End are examples of businesses that sell products through catalogs and bypass intermediaries.This method of selling is called ________.

• A) direct selling
• B) direct marketing
• C) convenient shopping
• D) retailing
• E) telemarketing

Acknowledge the role of information and perspectives in effective decision-making during crises.

Identify the characteristics of and approaches to programmed and nonprogrammed decisions.

Understand the role and limitations of economic models in explaining real-world phenomena.

Comprehend that economists use assumptions to simplify the complex world and facilitate understanding.

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Definitions:

Donaghue V. Stevenson

A foundational case in modern law that established the principle of duty of care, marking the inception of modern negligence law.

Hazardous Products Act

Legislation that regulates the sale, advertisement, and importation of hazardous products to ensure public safety.

Strict Liability

Responsibility for loss regardless of the circumstances.

Advertised Price

The price of a product or service that is publicly promoted or communicated to potential customers.