Business Final Quarter 4

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True or False: A service contract is a promise made by the manufacture or dealer that a product is of a certain quality
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False
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True or False: Certain seasons and conditions favor goods being sold at reduced prices
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True
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True or False: The right to service means that consumers can expect convenience, courtesy, and responsiveness to consumer problems and needs
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True
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True or False: The internet has become the number one source of fraudulent offers to consumers
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True
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True or False: The Better Business Bureau can recommend products or companies to consumers
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False
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True or False: It is not always the smart choice to buy the least expensive product
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True
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True or False: Store brands are usually sold at lower cost than national brands
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True
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True or False: About half of the states, mostly located in the west and northeast, have consumer protection agencies
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False
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True or False: Many manufactures pay product testing organizations to perform safety tests on their products
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True
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True or False: When you have a problem with a business, the first thing you should do is threaten to sue
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False
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Comparison shoppers usually evaluate which of the following? a. Quality b. Price c. Services d. All of the above
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D. All of the above
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All of the following types of businesses are among the main sources of consumer complaints except a. Motor vehicle repair b. Travel and vacation promotions c. Internet auctions d. Restaurants
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D. Restaurants
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Which of the following is not a business source of consumer information? a. Product label b. Advertising c. The Environmental Protection Agency d. Customer service department
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C. The Environment Protection Agency
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Which of the following constitutes fraud? a. A salesperson tells you a particular monitor is the best b. A salesperson tells you that a car has new brakes and it does not c. A salesperson tells you a certain DVD player is a smart purchase d. A salesperson tells you that a dishwasher will wash a load of dishes in 75 minutes and it really takes 80 minutes
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B. A salesperson tells you that a car has new brakes and it does not
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If an unrelieved or returned item is billed to your credit card, how long do you have to dispute it? a. 30 days b. 60 days c. 90 days d. 120 days
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B. 60 days
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This product testing organization tests electrical components of products from all over the world for fire and electrical safety a. Consumers Union b. Underwriters Laboratories c. Electricians Union d. The Association of Home Appliance Manufacturers
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B. Underwriters Laboratories
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This type of sale is often used when a new stores opens or when new products are introduced a. Fire sale b. Promotional sale c. Clearance sale d. End – of – year sale
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B. Promotional sale
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Which of the following lists the steps in the consumer complaint process in the correct order? a. Threaten legal action; contact the place of purchase; involve a consumer agency; take legal action b. Involve a consumer agency; contact the place of purchase; contact the company headquarters; take legal action c. Contact the place of purchase; contact the company headquarters; involve a consumer agency; take legal action d. Contact the company headquarters; involve a consumer agency; take legal action
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C. Contact the place of purchase; contact the company headquarters; involve a consumer agency; take legal action
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This government agency makes certain that medicines and cosmetic products are not harmful to consumers a. The Food and Drug Administration b. The United States Department of Agriculture c. The Better Business Bureau d. The Consumer Product Safety Commission
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A. The Food and Drug Administration
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The dollar limit for cases heard in small claims courts range from less than ___ in some states to ____ in others a. $100; $1000 b. $10000; $100000 c. $500; $5000 d. $1000; $10000
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D. $1,000; $10,000
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Generic products are less expensive than other items because a. They are advertised all over the country b. Consumers know to expect uniform quality in generic products c. They do not require advertising and fancy packaging d. They are sold in almost every community
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C. They do not require advertising and fancy packaging
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Which of the following shows the correct order of the decision – making process for buying a product or service? a. Know the decision available; identify needs and wants; evaluate alternatives; determine desired satisfaction; make the decision b. Evaluate alternatives; know the choices available; identify needs and wants; determine desired satisfaction; make the decision c. Determine desired satisfaction; identify needs and wants; know the choices available; evaluate alternatives; make the decision d. Identify needs and wants; know the choices available; determine desired satisfaction; evaluate alternatives; make the decision
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D. Identify needs and wants; know the choices available; determine desired satisfaction; evaluate alternatives; make the decision
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Which of the following is not one of the Consumer Bill of Rights? a. The right to be heard b. The right to be informed c. The right to service d. The right to low prices
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D. The right to low prices
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A guarantee a. Covers damages caused by misuse b. Is usually in writing c. Must apply to the entire item, not just to some parts of it d. All of the above
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B. Is usually in writing
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A small food retailer that stocks popular items at higher prices and emphasizes an accessible location and long operation hours is called a a. Convenience store b. Supermarket c. Specialty store d. Vending machines
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A. Connivence store
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Because of an error in the pricing bar code, everyone who bought a pair of jeans at a nationwide clothing store last month was overcharged by three dollars. The legal action that would be most appropriate in this case would be a. Mediation b. A class action lawsuit c. Arbitration d. Negotiation
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B. Class action lawsuit
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Which of the following publications would probably be your best source of information about how to invest your money? a. Kiplinger’s Personal Finance Magazine b. Consumer Reports c. Good Housekeeping d. Parents
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A. Kiplinger’s Personal Finance Magazine
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This warranty is imposed by law and is understood to apply even though it has not been stated a. Guaranteed warranty b. Statutory warranty c. Express warranty d. Implied warranty
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D. Implied warranty
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A ____ is a name given to a product or service to distinguish it from other similar and competitive items a. Brand b. Copyright c. Patent d. Logo
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A. Brand
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The most important responsibility consumers have is to be a. informed b. Waited on promptly c. Honest d. Alert
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A. Informed
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If you purchase online or by telephone, the seller must send you the item within ____ days
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Sixty
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A ______ club is a no – frills outlet focusing on the sale of large quantities at reasonable prices
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Warehouse
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_____ involves the use of a third party who tries to resolve the complaint between the consumer and the business
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Mediation
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Courts that resolve cases involving small amounts of money are called small ____ courts
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Claims
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A _____ action suit is a legal action by one party on behalf of a group of people who all have the same grievance
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Class
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The United States Department of ______ offers publications and online information about food buying, meal planning, and nutrition
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Agriculture
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A ____ sale is used to move out merchandise that stores no longer wish to carry
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Clearance
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A unit ____ is how much something costs per unit of measure
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Price
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One of the main activities of the Federal ____ Commission is to prevent one firm from using unfair practices to force competing firms out of business
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Trade
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If you plan to buy a product at a particular store, you could contact the Better _____ Bureau to find out what experiences other consumers have had with that store
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Business
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Buying items quickly without much prior thought is called ____ buying
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Impulse
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_____ occurs when consumers are given false information in an effort to make a sale
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Fraud
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A _____ store emphasizes lower prices on their products; they base their success on a high volume of sales and low prices
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Discount
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Consumer information you get from other people who have tried a product or service is sometimes referred to as word – of – _____ information
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mouth

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