Question 1

A goal of the consumer movement is to make consumer power:

Accepted Answer

A)  Exceed the rights and powers of firms that sell goods and services. 
B)  Exceed the rights and powers of the Food and Drug Administration. 
C)  An effective counterbalance to the rights and powers of firms that sell goods and services. 
D)  An effective counterbalance to the rights and powers of the Food and Drug Administration. 
A)  Exceed the rights and powers of firms that sell goods and services. 
B)  Exceed the rights and powers of the Food and Drug Administration. 
C)  An effective counterbalance to the rights and powers of firms that sell goods and services. 
D)  An effective counterbalance to the rights and powers of the Food and Drug Administration. C

Question 2

Businesses can take a number of measures to respond voluntarily to consumer demands. Which of the following is an example of such a measure?

Accepted Answer

A)  Product liability law reform. 
B)  Consumer call centers. 
C)  Consumer advocacy groups. 
D)  Alternative dispute resolution policies. 
A)  Product liability law reform. 
B)  Consumer call centers. 
C)  Consumer advocacy groups. 
D)  Alternative dispute resolution policies. B

Question 3

One alternative to product liability lawsuits is called:

Accepted Answer

A)  Limited resolution. 
B)  Punitive damages reform. 
C)  Alternative dispute resolution. 
D)  Consumerism. 
A)  Limited resolution. 
B)  Punitive damages reform. 
C)  Alternative dispute resolution. 
D)  Consumerism. C

Question 4

The Environmental Protection Agency's mission is to assure the safety and effectiveness of a wide range of consumer products including pharmaceutical drugs and foods.

Accepted Answer

A) True 
 B)False

Question 5

The Latin phrase, caveat emptor, meaning "let the seller beware" has put sellers on alert to look after their own interests.

Accepted Answer

A) True 
 B)False

Question 6

Consumer groups have generally opposed the idea of product liability reform using which of the following arguments?

Accepted Answer

A)  Punitive damages should be limited. 
B)  Strict liability should be retained. 
C)  The burden of proof should be shifted to consumers. 
D)  Losers should be made to pay some of the other side's legal bills. 
A)  Punitive damages should be limited. 
B)  Strict liability should be retained. 
C)  The burden of proof should be shifted to consumers. 
D)  Losers should be made to pay some of the other side's legal bills.

Question 7

One reason for business efforts to reform product liability laws is the increasing cost of insuring against liability suits.

Accepted Answer

A) True 
 B)False

Question 8

The act that requires lenders to inform borrowers of the annual rate of interest to be charged, plus related fees and services charges is called:

Accepted Answer

A)  The Consumer Protection Act. 
B)  The Product Safety Act. 
C)  The Predatory Mortgage Act. 
D)  The Truth in Lending Act. 
A)  The Consumer Protection Act. 
B)  The Product Safety Act. 
C)  The Predatory Mortgage Act. 
D)  The Truth in Lending Act.

Question 9

The major federal consumer protection agencies are authorized by law to:

Accepted Answer

A)  Intervene directly into the very center of free market activities, if that is considered necessary to protect consumers. 
B)  Substitute government-mandated standards for decision making by private buyers and sellers. 
C)  Intervene in the market by influencing consumers to buy one product or service rather than another. 
D)  Both A and B, but not C 
A)  Intervene directly into the very center of free market activities, if that is considered necessary to protect consumers. 
B)  Substitute government-mandated standards for decision making by private buyers and sellers. 
C)  Intervene in the market by influencing consumers to buy one product or service rather than another. 
D)  Both A and B, but not C

Question 10

As business firms grow in size and market power, they have increasingly lost the ability to dominate marketplace transactions with their customers.

Accepted Answer

A) True 
 B)False

Question 11

Which agency(ies) was (were) created during the great wave of consumer regulations in the 1960s and early 1970s?

Accepted Answer

A)  Consumer Product Safety Commission. 
B)  National Highway Traffic Safety Administration. 
C)  National Transportation Safety Board. 
D)  All of the above. 
A)  Consumer Product Safety Commission. 
B)  National Highway Traffic Safety Administration. 
C)  National Transportation Safety Board. 
D)  All of the above.

Question 12

Consumers have become more dependent on businesses for product quality because:

Accepted Answer

A)  The complexity of products makes choices complicated for consumers. 
B)  Instructions for use or care of product are provided in clear and simple language. 
C)  Their technical competence allows them to inspect the products thoroughly. 
D)  Competition has forced manufacturers to market lower-quality goods. 
A)  The complexity of products makes choices complicated for consumers. 
B)  Instructions for use or care of product are provided in clear and simple language. 
C)  Their technical competence allows them to inspect the products thoroughly. 
D)  Competition has forced manufacturers to market lower-quality goods.

Question 13

Managing for product quality is an attempt by business to address its suppliers' needs.

Accepted Answer

A) True 
 B)False

Question 14

The consumer movement exists because consumers want to be treated fairly and honestly in the marketplace. Outline and explain the additional reasons for the existence of the consumer movement.

Accepted Answer

The consumer movement exists for several

Question 15

In your opinion, do U.S. product liability laws need to be changed? If so, how? If not, why not? Investigate proposed changes in product liability laws over the last several years and evaluate them.

Accepted Answer

In my opinion, U.S. product liability la

Question 16

Before deregulation, government agencies frequently:

Accepted Answer

A)  Held prices artificially high, shielding businesses from competition. 
B)  Held prices artificially low, shielding consumers from selection. 
C)  Encouraged overseas trade, shielding businesses from competition. 
D)  Discouraged overseas trade, shielding consumers from selection. 
A)  Held prices artificially high, shielding businesses from competition. 
B)  Held prices artificially low, shielding consumers from selection. 
C)  Encouraged overseas trade, shielding businesses from competition. 
D)  Discouraged overseas trade, shielding consumers from selection.

Question 17

In some cases, businesses have banded together to agree on how they will treat their customers. This is called:

Accepted Answer

A)  Code of regulation. 
B)  Consumer affairs doctrine. 
C)  Voluntary industry codes of conduct. 
D)  Industry action standards. 
A)  Code of regulation. 
B)  Consumer affairs doctrine. 
C)  Voluntary industry codes of conduct. 
D)  Industry action standards.

Question 18

The main responsibility of the National Highway Traffic Safety Administration is to:

Accepted Answer

A)  Set a uniform national speed limit. 
B)  Set airline safety standards. 
C)  Set motor vehicle safety standards. 
D)  Safeguard consumers from altered odometers. 
A)  Set a uniform national speed limit. 
B)  Set airline safety standards. 
C)  Set motor vehicle safety standards. 
D)  Safeguard consumers from altered odometers.

Question 19

The consumer's right to privacy assures that information disclosed in the course of a commercial transaction is not shared with others unless authorized.

Accepted Answer

A) True 
 B)False

Question 20

Consumer advocates argue that consumers are entitled to five core rights. What are they? Explain each.

Accepted Answer

Consumer advocates argue that consumers

A goal of the consumer movement is to make consumer power:

Businesses can take a number of measures to respond voluntarily to consumer demands. Which of the following is an example of such a measure?

One alternative to product liability lawsuits is called:

The Environmental Protection Agency's mission is to assure the safety and effectiveness of a wide range of consumer products including pharmaceutical drugs and foods.

The Latin phrase, caveat emptor, meaning "let the seller beware" has put sellers on alert to look after their own interests.

Consumer groups have generally opposed the idea of product liability reform using which of the following arguments?

One reason for business efforts to reform product liability laws is the increasing cost of insuring against liability suits.

The act that requires lenders to inform borrowers of the annual rate of interest to be charged, plus related fees and services charges is called:

The major federal consumer protection agencies are authorized by law to:

As business firms grow in size and market power, they have increasingly lost the ability to dominate marketplace transactions with their customers.

Which agency(ies) was (were) created during the great wave of consumer regulations in the 1960s and early 1970s?

Consumers have become more dependent on businesses for product quality because:

Managing for product quality is an attempt by business to address its suppliers' needs.

The consumer movement exists because consumers want to be treated fairly and honestly in the marketplace. Outline and explain the additional reasons for the existence of the consumer movement.

In your opinion, do U.S. product liability laws need to be changed? If so, how? If not, why not? Investigate proposed changes in product liability laws over the last several years and evaluate them.

Before deregulation, government agencies frequently:

In some cases, businesses have banded together to agree on how they will treat their customers. This is called:

The main responsibility of the National Highway Traffic Safety Administration is to:

The consumer's right to privacy assures that information disclosed in the course of a commercial transaction is not shared with others unless authorized.

Consumer advocates argue that consumers are entitled to five core rights. What are they? Explain each.

The Corporation and Its Stakeholders

Managing Public Issues and Stakeholder Relationships

Corporate Social Responsibility

Ethics and Ethical Reasoning

Organizational Ethics and the Law

The Challenges of Globalization

Global Corporate Citizenship

Business-Government Relations

Influencing the Political Environment

Ecology and Sustainable Development in Global Business

Managing Environmental Issues

Technology, Organizations, and Society

Managing Technology and Innovation

Stockholder Rights and Corporate Governance

Employees and the Corporation

Managing a Diverse Workforce

The Community and the Corporation

Managing Public Relations

Filters

Exam 15: Consumer Protection

A goal of the consumer movement is to make consumer power:

Businesses can take a number of measures to respond voluntarily to consumer demands. Which of the following is an example of such a measure?

One alternative to product liability lawsuits is called:

The Environmental Protection Agency's mission is to assure the safety and effectiveness of a wide range of consumer products including pharmaceutical drugs and foods.

The Latin phrase, caveat emptor, meaning "let the seller beware" has put sellers on alert to look after their own interests.

Consumer groups have generally opposed the idea of product liability reform using which of the following arguments?

One reason for business efforts to reform product liability laws is the increasing cost of insuring against liability suits.

The act that requires lenders to inform borrowers of the annual rate of interest to be charged, plus related fees and services charges is called:

The major federal consumer protection agencies are authorized by law to:

As business firms grow in size and market power, they have increasingly lost the ability to dominate marketplace transactions with their customers.

Which agency(ies) was (were) created during the great wave of consumer regulations in the 1960s and early 1970s?

Consumers have become more dependent on businesses for product quality because:

Managing for product quality is an attempt by business to address its suppliers' needs.

The consumer movement exists because consumers want to be treated fairly and honestly in the marketplace. Outline and explain the additional reasons for the existence of the consumer movement.

In your opinion, do U.S. product liability laws need to be changed? If so, how? If not, why not? Investigate proposed changes in product liability laws over the last several years and evaluate them.

Before deregulation, government agencies frequently:

In some cases, businesses have banded together to agree on how they will treat their customers. This is called:

The main responsibility of the National Highway Traffic Safety Administration is to:

The consumer's right to privacy assures that information disclosed in the course of a commercial transaction is not shared with others unless authorized.

Consumer advocates argue that consumers are entitled to five core rights. What are they? Explain each.

The Corporation and Its Stakeholders

Managing Public Issues and Stakeholder Relationships

Corporate Social Responsibility

Ethics and Ethical Reasoning

Organizational Ethics and the Law

The Challenges of Globalization

Global Corporate Citizenship

Business-Government Relations

Influencing the Political Environment

Ecology and Sustainable Development in Global Business

Managing Environmental Issues

Technology, Organizations, and Society

Managing Technology and Innovation

Stockholder Rights and Corporate Governance

Employees and the Corporation

Managing a Diverse Workforce

The Community and the Corporation

Managing Public Relations

Filters