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Student Quizzes
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1
An individual who uses products and services in a commercial economy is a(n):
A)seller.
B)consumer.
C)wholesaler.
D)retailer.
2
A movement that promotes the rights of consumers in relation to sellers of products is called:
A)materialism.
B)commercialism.
C)individualism.
D)consumerism.
3
The idea, arising in the Enlightenment, that human beings are ends in themselves is termed as:
A)materialism.
B)consumerism.
C)individualism.
D)symbolism.
4
Materialism:
A)is a movement to promote the rights and interests of consumers in relation to sellers.
B)is an emphasis on money that displaces spiritual, aesthetic, or philosophical values.
C)is an idea arising in the Enlightenment which holds that human beings are ends in themselves.
D)is a pathology of corporate capitalism.
5
Which of the following observations about consumerism is false?
A)It favors laxity and leisure over discipline and denial.
B)It replaces the work ethic with easy credit and compulsive buying.
C)It converts profligacy into social status.
D)It discourages imitative consumption.
6
Which of the following is an action that the CPSC is authorized to do?
A)Conduct recalls of products found to violate federal laws.
B)Conduct research on and develop new vehicle safety technologies.
C)Protect the public against unreasonable risks of injury associated with consumer products.
D)Develop standards for the safety and effectiveness of over-the-counter drugs.
7
The NHTSA is authorized to:
A)administer grant programs that promote highway safety.
B)help consumers evaluate the safety of products.
C)develop uniform safety standards for products.
D)inspect and license manufacturers of biological products.
8
Which of the following statements is not an action that pertains to the FDA?
A)Monitor and enforce regulations through the inspection of food and cosmetics producers' facilities.
B)Require premarket testing of new drugs and evaluate new drug applications and requests to approve drugs for experimental use.
C)Regulate the composition, quality, safety, efficacy, and labeling of all drugs for human use and establish standards for this purpose.
D)Protect the public against unreasonable risks of injury and death associated with consumer products.
9
This agency maintains competition and curtails deceptive advertising.
A)The Food Safety and Inspection Service
B)The Federal Trade Commission
C)The Environmental Protection Agency
D)The Occupational Safety and Health Administration
10
Product liability is a(n):
A)doctrine that defines the legal relationship between a consumer and other parties to a product sale.
B)explicit claim made by the manufacturer to the buyer.
C)doctrine in the law of torts that covers redress for injuries caused by defective products.
D)contract in which the seller guarantees the nature of the product.
11
The dominant U.S. federal agency concerned with protecting consumers from housing and loan discrimination is:
A)the Equal Employment Opportunity Commission.
B)the Federal Trade Commission.
C)the Federal Deposit Insurance Administration.
D)the Securities and Exchange Commission.
12
This dominant U.S. federal agency's budget is larger than any other agency's in the consumer's protective shield.
A)The Securities and Exchange Commission
B)The Equal Employment Opportunity Commission
C)The Federal Trade Commission
D)The Transportation Security Administration
13
A private wrong committed by one person against another person is known as:
A)privity.
B)caveat emptor.
C)a tort.
D)a deterrence.
14
Under which principle are manufacturers held liable for defective products if the manufacturer does not do what a reasonable person could be expected to do?
A)Negligence
B)Breach of warranty
C)Strict liability
D)Caveat emptor
15
"Let the buyer beware" in marketing products is known as the principle of:
A)negligence.
B)caveat emptor.
C)malpractice.
D)breach of warranty.
16
The relationship between the parties to a contract that gives them a common legal interest is called:
A)caveat emptor.
B)implied warranty.
C)express warranty.
D)privity.
17
What type of warranty is an explicit claim made by the manufacturer to the buyer?
A)Implied warranty
B)Express warranty
C)Strict liability warranty
D)Product design warranty
18
What type of liability makes it possible for injured parties to hold all members of the distribution chain responsible for selling defective products?
A)Strict liability
B)Contributory liability
C)Limited liability
D)Current liability
19
The idea that "anyone who sells a defective product to a consumer that is unreasonably dangerous to the consumer" is held liable for harm caused to the consumer is the basic premise of:
A)contributory liability.
B)strict liability.
C)limited liability.
D)long-term liability.
20
Under this theory, it is presumed that any person engaged in ultrahazardous activities is automatically liable for adverse consequences to society.
A)The theory of strict liability
B)The theory of contributory liability
C)The theory of current liability
D)The theory of long-term liability





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