Consumer Rights and Responsibilities, Agencies, Economic Systems, Business Cycle

Question 1

A consumer does not follow safety procedures. Is this a:

Accepted Answer

consumer responsibility

Question 2

survival, adequate food, clothing, health care and education is an example of

Accepted Answer

right to basic needs

Question 3

Which of the following countries operates closest to the command economy?

Accepted Answer

North Korea

Question 4

What should consumers do when they hear about a recall on a product that they have bought?

Accepted Answer

follow the instructions on the recall notice

Question 5

When would the CPSC recall a product?

Accepted Answer

when they have investigated the complaints

Question 6

Who protects us against poor quality meat and fish?

Accepted Answer

USDA

Question 7

If a local production plant closes down, what does that do to production and unemployment?

Accepted Answer

unemployment rises, production decreases

Question 8

Businesses must provide accurate information is an example of

Accepted Answer

right to be informed

Question 9

The United States has a _________________ economy?

Accepted Answer

mixed

Question 10

Who regulates profanity on radio show?

Accepted Answer

FCC

Question 11

Consumers should take advantage of product variety is an example of

Accepted Answer

responsibility to choose

Question 12

How do you identify a pyramid scheme?

Accepted Answer

no product is sold

Question 13

Which agency protects us from false and deceptive advertising?

Accepted Answer

FTC

Question 14

If transportation costs increase, what will happen to grocery store prices?

Accepted Answer

increase

Question 15

What business cycle part is characterized by optimism/low unemployment/rising interest rates?

Accepted Answer

peak

Question 16

Which consumer agency protects toy safety issues?

Accepted Answer

CPSC

Question 17

Which part of the business cycle is characterized by falling GDP and rising unemployment?

Accepted Answer

recession

Question 18

What is your first step when you don't receive something you ordered online?

Accepted Answer

contact the website you purchased it

Questions 18