Duplicate of Consumer Quiz

Question 1

Butter and margarine would be classed as

Accepted Answer

Substitutes

Question 2

Which of the following is not an element of a contract

Accepted Answer

Bribe

Question 3

A consumer creating a budget is an example of a

Accepted Answer

financial decision

Question 4

Which type of payment system is most likely to lead to impulse buying?

Accepted Answer

Credit-card

Question 5

The giving up of something of value refers to

Accepted Answer

Consideration

Question 6

What is the best form of redress for a consumer?

Accepted Answer

Refund

Question 7

What does Caveat Emptor mean?

Accepted Answer

Let the buyer beware

Question 8

A person or business that sells products directly to the consumer

Accepted Answer

Retailer

Question 9

Terms in a contract that are unspoken or unwritten

Accepted Answer

Implied

Question 10

Which of the following is not a key factor affecting consumer decisions?

Accepted Answer

company structure

Question 11

Someone who purchases goods and services to satisfy needs and wants

Accepted Answer

A consumer

Question 12

An example of a service would be

Accepted Answer

A visit to the doctor

Question 13

Contacting a number of sellers to obtain the best deal

Accepted Answer

Comparison shopping

Question 14

Goods must be of 'merchantable quality' means

Accepted Answer

Goods must be reasonably durable

Question 15

An example of a non-retail store

Accepted Answer

An auction

Question 16

A financial plan is called a

Accepted Answer

Budget

Question 17

An illegal business practice is a

Accepted Answer

Scam

Question 18

Wants are necessary for survival

Accepted Answer

False

Question 19

Which of the following statements about contracts is not correct

Accepted Answer

the involve two elements; offer and acceptance

Questions 19