Store or company that loses money on a cheaply priced item in order to get consumers to buy more expensive products.
What is a loss leader?
100
3 places allowed to have raffles
What is churches, schools, non-profit organizations?
100
The special requirement of mechanics, insurance companies, and dentist.
What is itemize their bills so consumers know for which they are being charged?
200
Government agency that helps consumers start up a business by giving free advice.
What is the SBA (Small Business Administration)?
200
Company responsible for pulling off shelves, millions of bottles of Tylenol in a short period of time.
What is Johnson and Johnson?
200
Latin term that means "buyer beware"
What is caveat emptor?
200
Another name for a chain letter.
What is a confidence game? (Why is it called this?)
200
The agency responsible for worker safety.
What is OSHA?
300
Government agency that regulates a gallon of gas at the gas pump.
What is the US Department of Weights and Measures?
300
The Tylenol recall made manufacturers change "what" in regards to OTC products.
What is triple-wrapping all products, and putting tamper resistant covers on all drinks?
300
When a company lures consumers into the store with a low-priced item and then tries to entice them to purchase a higher-priced product.
What is bait-and-switch?
300
The 3 elements of a legal lottery.
What is money to participate, a winner chosen at random, a prize?
300
The term used when construction companies try to make the consumer pay more than they should be for a new home---they take turns giving low quotes so one company is always getting houses to build.
What is bid-rigging?
400
Government agency that regulates meat and dairy products.
What is the USDA (The US Department of Agriculture)?
400
Government agency responsible for recalling unsafe products.
What is the CPSC (The Consumer Product Safety Commission)?
400
Another phrase for confidence game.
What is a chain letter?
400
The reason states can hold lotteries.
What is to raise revenue for streets, parks, museums?
400
The order that makes someone STOP what they are doing, fix the problem, then RESUME once it's been approved.
What is cease and desist?
500
Government agency that regulates retail stores; ensuring that competition exists.
What is the FTC (The Federal trade Commission)?
500
Lawsuit where one person sues on behalf of all injured parties.
What is a class action?
500
A license issued to electricians and plumbers that documents the fact they have the necessary skills to do the job.
What is a competency license?
500
The reason a pyramid scheme is illegal.
What is because only one person makes money and doesn't pay taxes on the income?
500
The reason price-fixing is illegal.
What is it destroys competition (GOOD because prices stay low, quality stays high)?