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Define Ordinary Negligence, Gross Negligence, and Constructive Fraud

question 92

Essay

Define ordinary negligence, gross negligence, and constructive fraud.


Definitions:

Inputs

Resources such as labor, materials, and capital that are used in the production process to create goods and services.

Output

The total amount of goods or services produced by an individual, firm, or country over a specific period.

Marginal Product

The additional output that is produced by using one more unit of a particular input, while keeping other inputs constant.

Worker

An individual who performs labour for a company or another person in exchange for compensation.

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