Explain the idea that in the market approach to consumer protection, when consumers demand more safety from products, increased product safety is encouraged
Please provide the best answer for the statement.
Answer: In the market approach to consumer protection, consumer safety can be provided efficiently through the free market because sellers must respond to consumer demand if they are to make a profit. If consumers want products to be safer, they will buy products that are safe and refuse to buy products that are unsafe. Manufacturers will respond to this demand by building more safety into their products, or they will risk losing customers to competitors with safer products. Thus, if consumers want safety, the market will provide it, and sellers will price it according to how much it costs to provide it and how consumers think the safety features are worth. As a result, the market will provide safety at a fair price in ways that include an efficient use of society’s resources.
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a) the government control approach. b) the moderate position. c) the competitive approach. d) the ethical approach.
Which pastoral letter is the shortest in length?
a. 2 Timothy b. Titus c. 1 Timothy
Belief in God is not so much an inspiration as it is an ultimate explanation
Indicate whether the statement is true or false.
The author of the highly influential book A Theory of Justice, first published in 1971 is
____________________.
Fill in the blank(s) with the appropriate word(s).