When a firm sells a product with certain characteristics to a consumer, it voluntarily enters an...
When a firm sells a product with certain characteristics to a consumer, it voluntarily enters an agreement which gives the consumer the right to get a product with those characteristics. Which view of business firms' duty to consumers is this?
Homework Answers
Answer: The contractual view of business firm’s duty to the customers. As per this view the relationship between the customers and the firm is a contractual relationship and it is the moral duty of the firm to fulfill all the duties that are created because of this contractual relationship with the customers. Under this view the duties of the company include duty to comply, disclosing the nature of the product, avoiding the misrepresentation and use of unwanted force and influence.
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When a firm sells a product with certain characteristics to a
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