A product liability action based on negligence does notrequire privity of contract between the injured plaintiff andthe defendant-manufacturer
Indicate whether the statement is true or false
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Which group determines a product's position relative to competing products?
A) manufacturers B) wholesalers C) retailers D) consumers E) suppliers
Thompson Pool is known for quality pool installations, excellent customer service, and reasonable prices. If you want to have a Thompson pool you will have to wait about six months due to demand for their product. While Thompson could probably price their product higher, given the demand, they don't. Instead, they set price so that they earn a reasonable level of profits. This company seems to base its pricing policy on:
A. profit maximization B. earning satisfactory profits C. creating retained earnings D. making the most money as possible E. decreasing consumer demand
An example of a profit is the right to remove gravel
Indicate whether the statement is true or false
Expropriation is the: A) taking of private property by a country
B) development of tariffs for goods leaving the country. C) collection of a line of credit by property repossession. D) None of the above