What type of losses does product liability address?

Product liability primarily addresses losses that stem from defective products, and the scope of these losses is quite broad. This includes not only tangible damages, such as physical injuries resulting from a faulty product, but also encompasses emotional distress and economic losses that may arise from the use of a defective item. For example, if a faulty appliance causes a fire, the injuries and property damage are tangible losses, but if the affected individual experiences emotional trauma or incurs financial losses due to loss of use of their home or belongings, those would also fall under product liability claims.

This comprehensive coverage is why the correct answer highlights that all types of damage, including emotional and economic losses, are pertinent within product liability contexts. It reflects the legal principle that manufacturers, distributors, and retailers can be held liable for the full spectrum of harm their products may cause, not limited to just the physical manifestations of loss.