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The Difference Between Value of the Product and Price of the Product

question 14

Multiple Choice

The difference between value of the product and price of the product represents the _______.In business markets,the value provided will likely exceed the price or else the customer will be indifferent.


Definitions:

Criminal Manner

Actions or behaviors conducted with the intention or in a way that violates criminal law or results in criminal prosecution.

Product Liability Action

Legal action taken against manufacturers, distributors, suppliers, or retailers for damages caused by defective products they sold or distributed.

Damaged After Purchase

Refers to goods or items that become defective or damaged after they have been bought by a consumer.

Strict Product Liability

A doctrine in tort law that makes manufacturers, distributors, or sellers liable for any defects in the products they market, irrespective of negligence.

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