Question

True or False?

1. Ensuring that markets function within the law, assume full information, and must be free from fraud and deception is an important internal function for market-based economic systems.

2. The Kantian tradition in principle-based ethics argues that dishonesty treats others as a means to our own ends and thus disrespects the dignity of other persons.

3. According to McCall's fairness argument, holding the manufacturer liable under the strict product liability doctrine is fair because the injuries caused by a product are externalities that fairness requires to be internalized in the exchange between producer and consumer.

Answer 1

Due to presence of HOMEWORKLIB POLICY, I am answering one question.

1. True.

Explanation:

• Abiding by law makes market legal.
• Full information implies efficiency.
• No fraud and deception implies no market failure.

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