Introduction to Business

Section 2: Consumer Protection Laws

Self-Checks

1
Aimed at prohibiting price discrimination, the Robinson-Patman Act was passed in ______ .
A)1885
B)1936
C)1914
D)1962
2
A common warranty disclaimer limits a customer's recovery to ______ the purchase price.
A)$100 plus
B)a refund of
C)a percentage of
D)twice the amount of
3
The size, weight, and contents of a product must be displayed on the product to comply with the ______ Act.
A)Fair Packaging and Labeling
B)Federal Packaging and Labeling
C)Fair Product Identification
D)Federal Product Identification
4
The ______ (UCC) is a group of laws that regulate commercial business transactions.
A)Uniform Commerce Code
B)Uniform Commercial Convention
C)Uniform Commercial Code
D)United Commercial Code
5
An express warranty is a warranty that is ______ .
A)explicitly stated
B)printed on the package
C)limited to the purchase price
D)written clearly
6
The Consumer Credit Protection Act applies to credit purchases with payment terms of more than ______ .
A)one month
B)three months
C)two months
D)four months
7
The Better Business Bureau (BBB) is a ______ that collects information on local businesses and handles complaints.
A)consumer organization
B)nonprofit organization
C)government agency
D)professional association
8
Truth-in-lending laws are enforced by the ______ .
A)Better Business Bureau
B)Fair Credit Bureau
C)Consumer Credit Commission
D)Federal Trade Commission
9
The UCC protects the economic interests of ______ in contracts.
A)buyers
B)sellers
C)buyers and sellers
D)society
10
When consumers call the 800 number printed on the back of a food package, they are likely to reach a ______ .
A)customer service representative
B)mediator
C)government agency
D)sales associate
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