As the sale and lease of consumable as well as durable goods are the driving force of our economic marketplace, they also need to be considered as the primary basis for transactions as to how business entities do business. The need to limit and/or somehow control the legal liability that emanates from such transactions is, however, of critical importance. Various mechanisms have been considered and relied upon to prevent, and/ or respond to this potential and often costly liability. Considering those mechanisms, as a result of governmental actions, as well as the private sector and individual business initiatives, what do you regard as most reliably effective?
As the sale and lease of consumable as well as durable goods are the driving force of our economic marketplace, they also need to be considered as the primary basis for transactions as to how business entities do business. The need to limit and/or somehow control the legal liability that emanates from such transactions is, however, of critical importance. Various mechanisms have been considered and relied upon to prevent, and/ or respond to this potential and often costly liability. Considering those mechanisms, as a result of governmental actions, as well as the private sector and individual business initiatives, what do you regard as most reliably effective?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
100%
As the sale and lease of consumable as well as durable goods are the driving force of our economic marketplace, they also need to be considered as the primary basis for transactions as to how business entities do business. The need to limit and/or somehow control the legal liability that emanates from such transactions is, however, of critical importance.
Various mechanisms have been considered and relied upon to prevent, and/ or respond to this potential and often costly liability. Considering those mechanisms, as a result of governmental actions, as well as the private sector and individual business initiatives, what do you regard as most reliably effective?
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education