Which of the Following Refers to Situations Where Consumers Interact

question 41

Multiple Choice

Which of the following refers to situations where consumers interact with one other during a shopping event and opens the doors for others to influence our decisions?

• A)Social commerce.
• B)E-commerce.
• C)Online communities.
• D)Social publishing.
• E)Social shopping.

Differentiate between warranty of merchantability and warranty of fitness for a particular purpose.

Recognize the role and limitations of the "caveat emptor" principle in modern commercial law.

Apply the theory of product liability and understand the conditions under which a party can be held liable.

Understand the legal frameworks surrounding negligence, strict liability, and warranty disclaimers in product liability cases.

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Definitions:

Net Operating Income

The profit generated from a company's normal business operations, excluding expenses and revenues from investments and other non-operational sources.

Price Reduction

A decrease in the selling price of goods or services, typically aimed at increasing sales volume or clearing inventory.

Net Operating Income

A measure of a company's profitability from its regular business operations, excluding taxes and interest.

Price Hike

An increase in the price of goods or services, which can be due to various factors including increased production costs or higher demand.