A Public Policy Underlying the Imposition of Strict Product Liability

question 4

True/False

A public policy underlying the imposition of strict product liability is that a manufacturer who makes an unsafe product should be put out of business.

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Definitions:

Binding Minimum Wage

A legally established minimum wage that is high enough to affect the labor market by setting a floor on wages that employers can pay their employees.

Unemployment

The state of being jobless and actively looking for work but unable to find employment.

Low-skilled Workers

Individuals with minimal training and education who typically perform tasks that require basic skills.

Transatlantic Airfares

The prices for flights that cross the Atlantic Ocean, connecting destinations in Europe and America.