Consumer Skills Unit 1

Government allows some monopolies because:

• no one wants to produce the service

• the product is expensive to produce

• the public will get better service

A promise made by a business about a product is a:

• consumer good

• warranty

• opportunity cost

Unconscionable means:

• a warranty

• excessive

• contract

An express contract should include:

• vague language

• rights and duties of the buyer only

• purpose of the agreement

Products are tested for electrical safety by the:

• Consumer Affairs Office

• Better Business Bureau

• Underwriters Laboratory

The person with the complaint is the:

• plaintiff

• defendant

• judge

Redress is the right to:

• safety

• get your money back

• go to court

The amount of a product for sale at a certain price is called:

• capital goods

• demand

• supply

Any person, business or governmental unit that chooses and buys goods and services and uses them is called a:

• buyer

• trader

• consumer

The label that signified that an item has been tested for fire, casualty and electrical safety is the:

• Underwriters Laboratory

• Food and Drug Administration

• Federal Trade Commission