According to the Doctrine of Strict Liability, Which of the Following

question 42

Multiple Choice

According to the doctrine of strict liability, which of the following statements is not true?

• A) It is not necessary for consumers to prove negligence or breach of warranty by the producer.
• B) The consumer's own negligence is not an acceptable defense by the manufacturer.
• C) Manufacturers can be held liable if a product is inherently dangerous.
• D) This doctrine extends only to those involved in supplying parts for the final product.

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Definitions:

Absolute Advantage

The capacity of a nation, person, or company to generate a greater quantity of a product or service than its rivals with an identical level of resources.

Trade

The exchange of goods, services, or both between parties, often involving the transfer of money.

Commodity

A basic good used in commerce that is interchangeable with other goods of the same type; commodities are often used as inputs in the production of other goods or services.

Comparative Advantage

The competency of a country, individual, corporation, or region to manufacture a good or provide a service at a reduced opportunity cost than that of its competition.