Business and society 15 – Flashcards

question
A prime social responsibility of business is to safeguard customers
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While continuing to supply them with goods and services they want.
question
Consumers have become more dependent on businesses for product quality because
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The complexity of products makes choices complicated for customers
question
Which organization brings together 300 nonprofit groups to espouse the customer viewpoint
answer
Consumer Federation of America
question
Which of the following statements is not true about the organization Consumer Reports
answer
It is supported by the federal government
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A goal of the consumer movement is to make consumer power
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An effective counterbalance to the rights and powers of firms that sell goods and services.
question
The "right to be heard" assures that consumers interest will:
answer
Receive full and sympathetic consideration
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The act that requires lenders to inform borrowers of the annual rate of interest to be charged, plus related fees and services charge is called:
answer
The Truth in Lending Act
question
In the United States, which of the following agencies enforces the laws prohibiting deceptive advertising?
answer
Federal Trade Commission
question
The law requiring that toys and infant products be tested before sale is called the
answer
Consumer Product Safety Improvement Act
question
Manufacturers making false or misleading claims about a competitor's product is
answer
Illegal and unethical
question
Before deregulation, government agencies
answer
Held prices artificially high, shielding businesses petition
question
Which of the following limits the collection of information online from and about children under the age of 13?
answer
The Children's Online Privacy Protection Act
question
The main responsibilities of the natural Highway Traffic Safety Commission is to:
answer
Set motor vehicle safety standards
question
Which of the following is a mission of the Food and Drug Administration?
answer
To assure the safety and effectiveness of a wide range of consumer products.
question
The major federal consumer protection agencies are authorized by law to:
answer
A. Intervene directly into the very center of free market activities, if that is considered necessary to protect customer. B. Substitute government mandated standards for decision making by private buyers and sellers.
question
Online shoppers have always been concerned that:
answer
Information they reveal in the course of a sales transaction might be misused.
question
An identifying marker placed on a user's computer hard drive during visits in order to identify the user during each subsequent visit and to build profiles on their behavior overtime is called a:
answer
Cookie
question
Advertising that is targeted to particular customers, based on the observed online behavior, is called:
answer
Behavioral advertising
question
When businesses adopt voluntary policies for protecting the privacy of individuals information disclosed during electrical transactions, this is called:
answer
Industrial self-regulation
question
Under what legal doctrine does a firm bear legal responsibilities for injuries caused by something it made or sold, whether or not it was negligent or breach of warranty?
answer
Strict liability
question
Many companies have argued that the evolution of strict liability has
answer
Unfairly burden them with excess cost
question
Under proposals to establish a uniform federal standard for determining liability
answer
Companies would not have to go through repeated trials on the same charges in different states
question
One alternative to product liability lawsuit is called
answer
Alternative dispute resolution
question
In some cases, businesses have band together to agree on how they will treat their customers. This is called:
answer
Voluntary industri codes of conduct
question
Businesses take that a number of measures respond voluntary to customer demands. Which of the following is an example of such a measure?
answer
Consumer call centers.
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question
A prime social responsibility of business is to safeguard customers
answer
While continuing to supply them with goods and services they want.
question
Consumers have become more dependent on businesses for product quality because
answer
The complexity of products makes choices complicated for customers
question
Which organization brings together 300 nonprofit groups to espouse the customer viewpoint
answer
Consumer Federation of America
question
Which of the following statements is not true about the organization Consumer Reports
answer
It is supported by the federal government
question
A goal of the consumer movement is to make consumer power
answer
An effective counterbalance to the rights and powers of firms that sell goods and services.
question
The "right to be heard" assures that consumers interest will:
answer
Receive full and sympathetic consideration
question
The act that requires lenders to inform borrowers of the annual rate of interest to be charged, plus related fees and services charge is called:
answer
The Truth in Lending Act
question
In the United States, which of the following agencies enforces the laws prohibiting deceptive advertising?
answer
Federal Trade Commission
question
The law requiring that toys and infant products be tested before sale is called the
answer
Consumer Product Safety Improvement Act
question
Manufacturers making false or misleading claims about a competitor's product is
answer
Illegal and unethical
question
Before deregulation, government agencies
answer
Held prices artificially high, shielding businesses petition
question
Which of the following limits the collection of information online from and about children under the age of 13?
answer
The Children's Online Privacy Protection Act
question
The main responsibilities of the natural Highway Traffic Safety Commission is to:
answer
Set motor vehicle safety standards
question
Which of the following is a mission of the Food and Drug Administration?
answer
To assure the safety and effectiveness of a wide range of consumer products.
question
The major federal consumer protection agencies are authorized by law to:
answer
A. Intervene directly into the very center of free market activities, if that is considered necessary to protect customer. B. Substitute government mandated standards for decision making by private buyers and sellers.
question
Online shoppers have always been concerned that:
answer
Information they reveal in the course of a sales transaction might be misused.
question
An identifying marker placed on a user's computer hard drive during visits in order to identify the user during each subsequent visit and to build profiles on their behavior overtime is called a:
answer
Cookie
question
Advertising that is targeted to particular customers, based on the observed online behavior, is called:
answer
Behavioral advertising
question
When businesses adopt voluntary policies for protecting the privacy of individuals information disclosed during electrical transactions, this is called:
answer
Industrial self-regulation
question
Under what legal doctrine does a firm bear legal responsibilities for injuries caused by something it made or sold, whether or not it was negligent or breach of warranty?
answer
Strict liability
question
Many companies have argued that the evolution of strict liability has
answer
Unfairly burden them with excess cost
question
Under proposals to establish a uniform federal standard for determining liability
answer
Companies would not have to go through repeated trials on the same charges in different states
question
One alternative to product liability lawsuit is called
answer
Alternative dispute resolution
question
In some cases, businesses have band together to agree on how they will treat their customers. This is called:
answer
Voluntary industri codes of conduct
question
Businesses take that a number of measures respond voluntary to customer demands. Which of the following is an example of such a measure?
answer
Consumer call centers.