Chapter 6
A process used to settle grievances in a nonbinding process is called a(n)
Mediation
Sally has a major problem with a product and thinks that many others have had the same problem. Which of the following is the best way to resolve the problem?
class action lawsuit
This type of promotion immediately reduces the amount a family spends on groceries each week.
coupons
A fixed operating cost for a vehicle is
depreciation
Which of the following is an advantage of a car lease?
monthly lease payments are usually lower than montly financing payments
If you have a problem whose remedy will be between $1,500 and $3,000, the appropriate tool to use would be (a)
small claims court
Which of the following is correct about the lemon law?
It applies to vehicles that have been serviced four times to correct the same problem in the first 12,000 miles
The text identifies several phases in the research-based buying process. The correct order of the phases is
Pre-shopping activities, evaluating alternatives, selection and purchase, post-purchase activities
George has never bought a new car before. Which of the following techniques should he use to get the best deal?
Research the dealer cost and begin negotiations
Which of the following is a disadvantage of a car lease?
at the end of the lease, you have no ownership interest in the vehicle
The dealer's cost is also known as the
invoice price
A variable operating cost for a vehicle is
maintenance and repairs
This is a written guarantee from the manufacturer that specifies the conditions under which the product can be returned, replaced, or repaired
warranty
The average used car costs about ________ less than the average new car
10,000
When Jane researched the brands and prices of refrigerators, she was
Comparison shopping