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Business Law - Chapter 7

Authored by Janet Wetz

Business

11th - 12th Grade

Business Law - Chapter 7
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27 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The federal Magnuson-Moss Warranty Act applies only to written warranties on certain products sold to consumers. 

True
False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Merchantability requires that any warranty protection that is customary in the trade be extended to all buyers. 

True
False 

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Consumer Product Safety Commission receives reports about product failure from 

the distributor
the manufacturer
the consumer
all of these 

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Assurance of quality or promise of performance clearly made by the seller is an express warranty 

true
false 

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An implied warranty of fitness for a particular purpose arises when the buyer personally selects the goods and does not rely on the skill or judgement of the seller.

True
False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When buying any good or service, customers are entitled to expect

The goods to be of the best standard possible

The goods are satisfactory quality

Goods to be guaranteed for 3 years

Good to be the same price as competitors

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A business must sell goods that

Do what they are meant to do

Perform as well as competitor goods

Are made to last for years

Are as cheap as possible

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