When it comes to product liability, supply management: lowers risk by ensuring that suppliers deliver defect-free goods.

has little or no role since this is essentially a legal action.

has responsibility only to the internal customer, not the final customer.

is liable depending on the type of warranty agreed to in the contract.

Which of the following results in an increase in the standard of living? a. an increase in unemployment pushes down the cost of production. b. wages go up to correct for the inflation of prices. c. income increases, enabling consumers to buy more goods and services. d. rising production costs drive up the price of goods and services.