Question 1

Regulations often benefit consumers,but not always.Name one reason that regulations can sometimes harm consumers.

Accepted Answer

Regulations can sometimes harm consumers...

Question 2

Statistics indicate that the faith consumers place in manufacturers is often misplaced.

Accepted Answer

A) True 
 B)False

Question 3

According to the legal doctrine of strict product liability,

Accepted Answer

A)  the producer of a product is responsible for any injury the consumer suffers.
B)  consumers must assume all risk whenever they buy a product.
C)  product liability presupposes negligence by more than one party.
D)  a manufacturer need not be negligent to be held liable for a defective product.

Question 4

What is an argument for strict product liability?

Accepted Answer

An argument for strict product liability...

Question 5

Thomas L.Carlson argues that there are four rules that must be followed for a sale to be ethical.What are they,and what objections can be raised against them?

Accepted Answer

Review thr...

Question 6

Before the case of MacPherson v.Buick Motor Car in 1916,the law based a manufacturer's liability for injuries due to a defective product on

Accepted Answer

A)  the principle of strict liability.
B)  the direct contractual relationship between the producer and the consumer.
C)  the principle of the reasonable person.
D)  whether or not the manufacturer exercised due care.

Question 7

Due care is

Accepted Answer

A)  based on the principle of caveat emptor.
B)  based on the principle "let the buyer beware."
C)  the idea that consumers and sellers do not meet as equals and that consumer's interests are particularly vulnerable to being harmed by the manufacturer.
D)  based on the principle of absolute liability.

Question 8

Anti-paternalism is often defended on the assumption that individuals know their own interests better than anyone else,and that they are fully informed and able to advance those interests.

Accepted Answer

A) True 
 B)False

Question 9

Advertising

Accepted Answer

A)  makes the market more efficient.
B)  maximizes consumer well-being (thanks to the invisible hand) .
C)  can't be restricted without violating the moral rights of advertisers.
D)  subsidizes the media.

Question 10

People generally speak of two kinds of warranties.What are these two kinds of warranties?

Accepted Answer

A)  express and implied
B)  positive and negative
C)  limited and unlimited
D)  legal and moral

Question 11

According to Galbraith's "dependence effect,"

Accepted Answer

A)  production depends upon wants.
B)  advertising depends on the wants of the consumer.
C)  producers use advertising to shape consumer wants.
D)  advertising depends on consumerism.

Question 12

"Weasel words" are words used to evade or retreat from a direct or forthright statement.

Accepted Answer

A) True 
 B)False

Question 13

The case of MacPherson v.Buick Motor Car in 1916 changed product liability law.As a result of it,the courts

Accepted Answer

A)  permitted consumers to sue manufacturers with whom they had no contractual relationships.
B)  adopted the principle of caveat emptor.
C)  permitted consumers to sue the retailer from whom they had purchased the product.
D)  adopted the principle of strict liability.

Question 14

Businesses are never legally responsible for accidents that occur exclusively as a result of product misuse.

Accepted Answer

A) True 
 B)False

Question 15

Give an example of labeling or packaging that would be deceptive or misleading.

Accepted Answer

An example of labeling or packaging that...

Question 16

"Puffery" is an example of which of the following deceptive or misleading advertising techniques?

Accepted Answer

A)  ambiguity
B)  exaggeration
C)  psychological appeals
D)  concealed facts

Question 17

Strict product liability is the doctrine that the seller of a product has legal responsibilities to compensate the user of that product for injuries suffered due to a defective aspect of the product,even if the seller has not been negligent in permitting that defect to exist.

Accepted Answer

A) True 
 B)False

Question 18

Give an example of manipulative pricing.

Accepted Answer

Manipulative pricing refers to strategie...

Question 19

The terms "best,finest,and most" are examples of

Accepted Answer

A)  puffery.
B)  psychological appeals.
C)  truth in advertising.
D)  trust building statements.

Question 20

A psychological appeal is one that aims to persuade by appealing primarily to reason and not to human emotional needs.

Accepted Answer

A) True 
 B)False

Exam 6: Consumers

"Puffery" is an example of which of the following deceptive or misleading advertising techniques?

Correct AnswerverifiedShow Answer

The terms "best,finest,and most" are examples of

Correct AnswerverifiedShow Answer

Anti-paternalism is often defended on the assumption that individuals know their own interests better than anyone else,and that they are fully informed and able to advance those interests.

Correct AnswerverifiedShow Answer

Statistics indicate that the faith consumers place in manufacturers is often misplaced.

Correct AnswerverifiedShow Answer

A psychological appeal is one that aims to persuade by appealing primarily to reason and not to human emotional needs.

Correct AnswerverifiedShow Answer

According to Galbraith's "dependence effect,"

Correct AnswerverifiedShow Answer

The case of MacPherson v.Buick Motor Car in 1916 changed product liability law.As a result of it,the courts

Correct AnswerverifiedShow Answer

Thomas L.Carlson argues that there are four rules that must be followed for a sale to be ethical.What are they,and what objections can be raised against them?

Correct AnswerverifiedReview thr...View AnswerShow Answer

Strict product liability is the doctrine that the seller of a product has legal responsibilities to compensate the user of that product for injuries suffered due to a defective aspect of the product,even if the seller has not been negligent in permitting that defect to exist.

Correct AnswerverifiedShow Answer

Advertising

Correct AnswerverifiedShow Answer

Before the case of MacPherson v.Buick Motor Car in 1916,the law based a manufacturer's liability for injuries due to a defective product on

Correct AnswerverifiedShow Answer

According to the legal doctrine of strict product liability,

Correct AnswerverifiedShow Answer

"Weasel words" are words used to evade or retreat from a direct or forthright statement.

Correct AnswerverifiedShow Answer

Due care is

Correct AnswerverifiedShow Answer

Give an example of labeling or packaging that would be deceptive or misleading.

Correct AnswerAnswered by ExamLex AIAn example of labeling or packaging that...View AnswerShow Answer

Businesses are never legally responsible for accidents that occur exclusively as a result of product misuse.

Correct AnswerverifiedShow Answer

What is an argument for strict product liability?

Correct AnswerAnswered by ExamLex AIAn argument for strict product liability...View AnswerShow Answer

Give an example of manipulative pricing.

Correct AnswerAnswered by ExamLex AIManipulative pricing refers to strategie...View AnswerShow Answer

People generally speak of two kinds of warranties.What are these two kinds of warranties?

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Regulations often benefit consumers,but not always.Name one reason that regulations can sometimes harm consumers.

Correct AnswerAnswered by ExamLex AIRegulations can sometimes harm consumers...View AnswerShow Answer

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Review thr...
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An example of labeling or packaging that...
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An argument for strict product liability...
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Manipulative pricing refers to strategie...
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Regulations can sometimes harm consumers...
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