One good way to gather information about a product you want to purchase is to talk to friends who have bought the type of product you are looking for.
What is true.
100
A private organization that helps protect consumers from unfair business practices.
What is the Better Business Bureau?
100
A warranty that promises to pay all or partial replacement costs on certain parts for a specified period of time.
What is a limited warranty?
100
Suppose you find two similar products at the same price. Only one of them has a full warranty. You should buy the one
a. with a full warranty
b. with a limited warranty
c. without a warranty
What is the one with a full warranty (a)?
200
A promise to replace or repair all parts at no cost for a certain period of time.
What is a full warranty?
200
Generic goods are never as good as brand-name items.
What is false? Comparable to each other in the majority of instances
200
A group of representatives of local businesses who meet regularly to promote business in their town or city.
What is Chamber of Commerce?
200
Looking at similarities and differences in features, quality, and price of competing goods and services.
What is comparison shopping?
200
Sue saw a sofa advertised for $350.00. When she went to buy it, the salesperson told her the sofa was cheap and ugly. He tried to sell her one for $400.00. The salesperson was using a ___________________ tactic.
a. limited warranty
b. comparison shopping
c. bait and switch
What is bait and switch (c)?
300
A breakdown of how you spend your money.
What is a budget?
300
Many local, state, and federal agencies help consumers with problems.
What is True?
300
Helps protect consumer safety by regulating the production, packaging, and labeling of foods, drugs, and cosmetics.
What is the Food and Drug Administration (FDA)?
300
An example of an illegal form of advertising.
What is bait and switch?
300
Before buying a new TV, Michael looked at different brands in several stores. His ______________ paid off when he got all the features he wanted at a good price.
a. full warranty
b. comparison shopping
c. bait and switch
What is comparison shopping (b)?
400
Things that come first in order of importance.
What are priorities?
400
When making buying decisions, your only consideration should be price.
What is false? Quality and features also
400
Helps prevent unfair competition, deceptive trade practices, and false advertising.
What is the Federal Trade Commission (FTC)?
400
Suppose you are buying a house. Give an example of an additional cost.
What is the money needed to fix a leaky roof or taxes, etc.?
400
The Smith's were planning to visit Philadelphia, Pennsylvania for the first time. They contacted the ______ to learn about the businesses in the area.
a. Better Business Bureau
b. Chamber of Commerce
c. Federal Communications Commission
What is Chamber of Commerce (b)?
500
Deliberately making a false description of a product to induce a sale.
What is fraud?
500
When you buy something, the only cost is the money you pay for the good.
What is false? Additional charges such as taxes, registration fees, extended warranty charges, etc.
500
Handles complaints about the practices and charges of wired and wireless telephone systems, radio and television broadcasts and cable TV.
What is The Federal Communications Commission (FCC)?
500
The first step in making sound economic decisions.
What is setting goals and looking at your priorities?
500
Mary was angry that her new clock stopped working a week after she purchased it. She contacted the __________ to complain about the store that sold it to her.
a. Federal Trade Commission (FTC)
b. Chamber of Commerce
c. Better Business Bureau