Which of the following best describes a 'hazardous material'?

A hazardous material is best described as a substance that poses a risk to health or safety. This definition captures the essence of what makes a material hazardous—its potential to cause harm to individuals, property, or the environment. Hazardous materials can include chemicals that are toxic, flammable, reactive, or corrosive. Understanding this definition is crucial for ensuring workplace safety and compliance with regulations that govern the handling, storage, and disposal of such materials.

In contrast, the other options do not align with the definition of hazardous materials. A generally safe product implies that the item does not pose risks, which is the opposite of a hazardous material. Similarly, describing a substance as a well-known chemical compound does not imply that it is hazardous; many known compounds are perfectly safe. Lastly, a common household item may or may not be hazardous, as it depends on the specific item and its properties. Thus, the most accurate description focuses on the risk aspect, making the first choice the correct response.