Question 1

Mediation involves a legally binding decision by a third party to solve a consumer complaint.

Accepted Answer

A) True 
 B)False

Question 2

The first phase in the buying process involves information gathering.

Accepted Answer

A) True 
 B)False

Question 3

One way to gather information about a product is to use an independent testing organization like Consumers Union.

Accepted Answer

A) True 
 B)False

Question 4

For a situation to qualify as a class-action suit,it must:

Accepted Answer

A)  involve several people who have suffered the same problem.
B)  involve a national retail store.
C)  be a case that would not be handled by an attorney.
D)  involve low-income individuals.
E)  be a legal problem against a government agency.F) B) and D)
G) A) and B)

Question 5

What are the common sources of consumer information?

Accepted Answer

Sources of information for use when maki...

Question 6

A Whirlpool dishwasher is an example of a:

Accepted Answer

A)  national brand.
B)  store brand.
C)  generic brand.
D)  local brand.
E)  regional brand.F) None of the above
G) A) and C)

Question 7

____________ is considered a variable operating cost of an automobile.

Accepted Answer

A)  Depreciation
B)  Interest on auto loan
C)  Insurance
D)  Registration fee
E)  MaintenanceF) A) and B)
G) D) and E)

Question 8

Near-field communications allows consumers to make purchases by waving their smartphones in front of a sensor when paying.

Accepted Answer

A) True 
 B)False

Question 9

Stephanie Johns is a member in a store that is a nonprofit organization that buys grocery items in bulk.Members can save a considerable amount on the groceries they purchase in the store.Stephanie is most likely shopping in which type of store?

Accepted Answer

A)  Department store
B)  Specialty store
C)  Discount store
D)  Convenience store
E)  CooperativeF) C) and D)
G) B) and C)

Question 10

The most reliable source of product information is likely to come from:

Accepted Answer

A)  an advertisement.
B)  salespeople in a store.
C)  friends and relatives.
D)  a food product ingredient label.
E)  a mail order catalog.F) All of the above
G) A) and B)

Question 11

A cooperative is designed to:

Accepted Answer

A)  solve consumer complaints.
B)  test consumer products for quality.
C)  sell products or services to members at reduced prices.
D)  obtain brand-name items for less than wholesale cost.
E)  lobby for changes in consumer protection laws.F) B) and D)
G) B) and C)

Question 12

Which of the following is not a social factor that would influence a consumer buyer's decision?

Accepted Answer

A)  Lifestyle
B)  Hobbies
C)  Marital status
D)  Culture
E)  Peer groupF) A) and C)
G) A) and E)

Question 13

Explain the difference between arbitration and mediation.

Accepted Answer

Mediation involves the use of ...

Question 14

Which of the following is a store-brand product?

Accepted Answer

A)  Bayer aspirin
B)  Walgreen's aspirin
C)  Tylenol
D)  Advil
E)  AleveF) All of the above
G) B) and E)

Question 15

The sticker price of a car refers to:

Accepted Answer

A)  the amount of government taxes on a new car.
B)  the cost of repairing a used car which is for sale.
C)  the list of optional equipment that may be added to a car.
D)  the suggested retail price of a new car.
E)  a comparison of costs and performance of comparable cars.F) A) and E)
G) B) and D)

Question 16

Steve Franklin recently purchased a stereo system.After a few weeks it overheated,causing a small fire and some minor damage.What actions would you recommend to Steve to resolve his consumer complaint?

Accepted Answer

The steps that are commonly suggested to...

Question 17

Sally Nash has decided she needs a new car.After doing some research,she has settled on a midsized four door sedan.She likes the Honda Accord and is exploring the features she needs and wants on this car.She is also trying to decide whether she would be better off purchasing a new car,a used car,or leasing a car.She knows that if she purchases it new it would likely last her for many,many years.On the other hand a used car would be a lot cheaper.She is not sure a lease is for her because of the mileage requirements.What step in the purchasing process is Sally carrying out?

Accepted Answer

A)  Problem identification
B)  Information gathering
C)  Evaluating alternatives
D)  Determining the purchase price
E)  Post purchase activitiesF) D) and E)
G) B) and C)

Question 18

Most used cars bought from private parties have:

Accepted Answer

A)  no implied warranties.
B)  a 30-day return privilege.
C)  a limited warranty.
D)  no express warranty.
E)  a government-supported repair guarantee.F) C) and D)
G) A) and B)

Question 19

The Sears Kenmore dishwasher is an example of a:

Accepted Answer

A)  national brand.
B)  store brand.
C)  generic brand.
D)  local brand.
E)  regional brand.F) B) and E)
G) A) and B)

Question 20

Advertising is a type of consumer information commonly provided by business organizations.

Accepted Answer

A) True 
 B)False

Exam 8: Consumer Purchasing Strategies and Legal Protection

Stephanie Johns is a member in a store that is a nonprofit organization that buys grocery items in bulk.Members can save a considerable amount on the groceries they purchase in the store.Stephanie is most likely shopping in which type of store?

Correct Answer
verified

Most used cars bought from private parties have:

Correct Answer
verified

A cooperative is designed to:

Correct Answer
verified

What are the common sources of consumer information?

Correct Answer
verified
Sources of information for use when maki...
View Answer

The sticker price of a car refers to:

Correct Answer
verified

For a situation to qualify as a class-action suit,it must:

Correct Answer
verified

Which of the following is not a social factor that would influence a consumer buyer's decision?

Correct Answer
verified

One way to gather information about a product is to use an independent testing organization like Consumers Union.

Correct Answer
verified

The most reliable source of product information is likely to come from:

Correct Answer
verified

Steve Franklin recently purchased a stereo system.After a few weeks it overheated,causing a small fire and some minor damage.What actions would you recommend to Steve to resolve his consumer complaint?

Correct Answer
verified
The steps that are commonly suggested to...
View Answer

Near-field communications allows consumers to make purchases by waving their smartphones in front of a sensor when paying.

Correct Answer
verified

The first phase in the buying process involves information gathering.

Correct Answer
verified

Explain the difference between arbitration and mediation.

Correct Answer
verified
Mediation involves the use of ...
View Answer

Mediation involves a legally binding decision by a third party to solve a consumer complaint.

Correct Answer
verified

A Whirlpool dishwasher is an example of a:

Correct Answer
verified

Which of the following is a store-brand product?

Correct Answer
verified

The Sears Kenmore dishwasher is an example of a:

Correct Answer
verified

Advertising is a type of consumer information commonly provided by business organizations.

Correct Answer
verified

Correct Answer
verified

____________ is considered a variable operating cost of an automobile.

Correct Answer
verified

Exam 8: Consumer Purchasing Strategies and Legal Protection

Stephanie Johns is a member in a store that is a nonprofit organization that buys grocery items in bulk.Members can save a considerable amount on the groceries they purchase in the store.Stephanie is most likely shopping in which type of store?

Correct AnswerverifiedShow Answer

Most used cars bought from private parties have:

Correct AnswerverifiedShow Answer

A cooperative is designed to:

Correct AnswerverifiedShow Answer

What are the common sources of consumer information?

Correct AnswerverifiedSources of information for use when maki...View AnswerShow Answer

The sticker price of a car refers to:

Correct AnswerverifiedShow Answer

For a situation to qualify as a class-action suit,it must:

Correct AnswerverifiedShow Answer

Which of the following is not a social factor that would influence a consumer buyer's decision?

Correct AnswerverifiedShow Answer

One way to gather information about a product is to use an independent testing organization like Consumers Union.

Correct AnswerverifiedShow Answer

The most reliable source of product information is likely to come from:

Correct AnswerverifiedShow Answer

Steve Franklin recently purchased a stereo system.After a few weeks it overheated,causing a small fire and some minor damage.What actions would you recommend to Steve to resolve his consumer complaint?

Correct AnswerverifiedThe steps that are commonly suggested to...View AnswerShow Answer

Near-field communications allows consumers to make purchases by waving their smartphones in front of a sensor when paying.

Correct AnswerverifiedShow Answer

The first phase in the buying process involves information gathering.

Correct AnswerverifiedShow Answer

Explain the difference between arbitration and mediation.

Correct AnswerverifiedMediation involves the use of ...View AnswerShow Answer

Mediation involves a legally binding decision by a third party to solve a consumer complaint.

Correct AnswerverifiedShow Answer

A Whirlpool dishwasher is an example of a:

Correct AnswerverifiedShow Answer

Which of the following is a store-brand product?

Correct AnswerverifiedShow Answer

The Sears Kenmore dishwasher is an example of a:

Correct AnswerverifiedShow Answer

Advertising is a type of consumer information commonly provided by business organizations.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

____________ is considered a variable operating cost of an automobile.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
verified
Sources of information for use when maki...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The steps that are commonly suggested to...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Mediation involves the use of ...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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