Final answer:
The risk of a product liability lawsuit is a non-systematic risk, which is specific to individual companies or industries, unlike systematic risks which affect the entire economy.
Step-by-step explanation:
Non-systematic risk refers to the occurrence of economic risks over which an individual has very little control, such as natural disasters, wars, or a country's economic events. Among the options given, the risk of a product liability lawsuit is an example of a non-systematic risk.
This type of risk is particular to a company or industry, and it can arise from unforeseen circumstances specific to that company's operations, such as defects or safety issues with one of its products.
Other examples provided, such as the risk of a COVID pandemic, the risk that the Bank of Canada will increase interest rates, and the risk of an increase in oil prices are all systematic risks. These risks are part of the broader economic landscape affecting all firms and individuals within an economy, not just a single company or sector.