In: Economics
What constitutes “unreasonable risk” concerning the safety of a product?
Identify considerations that define the safety of a product from an ethical
perspective
1. 'Product safety' is ethically a term which is used to describe various policies that are designed to protect people from the risks that are connected to consumer products which they buy and use daily.
2. Consumer Product Safety Act (CPSA) is one among the most important federal laws to protect consumers from unsafe goods.
3. Product safety standards are the rules which are related to the manufacture and design of consumer goods initiated in order to protect users from an unreasonable risk of harm.
4. 'Unreasonable risks' are the ones which can be eliminated through technical and economically sensible practical means. Say, it can eliminated by the identification of hazards in which environment it could be used through surveys, injury data, etc.
5. On the identification of the unreasonable risks after the distribution of the product to the public, quick notification to the consumers and government to protect users is mandatory.
6. New methods such as Consumer Product Safety Commission 's(CPSC) Fast Track Recall Programs are used in order to initiate swift and remedial action in not recognizing a considerable hazard by the regulators.