Final answer:
Negligence is the failure to act with the level of care that an ordinary responsible and prudent person would exercise in the same situation, leading to negative consequences.
Step-by-step explanation:
The failure to behave as an ordinary responsible and prudent person would in the same situation is known as negligence. When individuals do not uphold a certain standard of responsibility, they can cause harm to themselves or others as a consequence of their actions. For example, choosing social activities over studying might lead to a failing grade, or starting a business without proper planning might result in financial loss. Such outcomes are the result of poor judgment and a lack of prudent behavior expected in those circumstances.