Business Chapter 10

True or False? An implied warranty is usually printed in the owner's manual of a product.

False

a company refused to refund $10 to more than 4,000 customers. This situation might result in the use of

a class action suit

arbitration

a decision that is legally binding

guarantee

a promise by the manufacturer or dealer

The most reliable consumer information source will be

comments from other consumers

brand

name given to a product or service

unit price

price per unit of measure

most consumer complaints are resolved by

returning to the place of purchase

mediation

the use of a third party who tries to resolve the complaint between the consumer and the business

consumer movement

to fight against unfair business practices, consumers united to demand fair treatment from businesses

which of the following is an example of a non-store shopping location?

vending machine

fraud

when consumers are given false infromation in effort to make a sale

impulse buying

buying too quickly

A person who compares product information on labels is using the consumer right to

be informed

True or False? The U.S. consumer product safety commission is responsoble for regulating the safety of food.

True

small claims court

court system that resolves cases involving small amounts

if a person returns an item as new for a refund after using, this violated the consumer responsibility to be

honest

the first step in the buying decision making process is to

identify your needs

implied warranty

imposed by law and understood to apply even if not stated

class action suit

legal action by one party on behalf of a group of people who all have the same grievance

express warranty

made orally or in writing promising a specific quality of performance