4-3 Consumer Protection

What does the Latin term 'caveat emptor' mean?

• Seller beware of buyer

• Buyer beware of seller

• Let the seller beware

• Let the buyer beware

Which act prohibits monopolistic business practices?

• Children’s Online Privacy Protection Act

• Sherman Antitrust Act

• Lanham Act

• Truth in Lending Act

What is the main purpose of the Truth in Lending Act (TILA)?

• To regulate online privacy for children

• To protect trademarks

• To monitor product safety

• To ensure transparency in lending practices

Which right ensures consumers can compare and select different products?

• Right to Choose

• Right to Redress

• Right to Safety

• Right to be Informed

What does the Consumer Product Safety Act (CPSA) monitor?

• Safety of consumer products

• Fair competition in the market

• Lending practices

• Trademark registration

Which act created the U.S. trademark registration system?

• Lanham Act

• Federal Trade Commission Act

• Sherman Antitrust Act

• Truth in Lending Act

What is a monopoly?

• A deceptive business practice

• A type of consumer right

• An agreement among competitors to fix prices

• A market where one company controls the supply of a good or service

Which act requires parental consent for collecting information on children under 13?

• Magnuson-Moss Warranty Act

• Children’s Online Privacy Protection Act

• Truth in Lending Act

• Fair Credit Reporting Act

What does the Right to Redress entitle consumers to?

• A fair remedy or resolution when their rights are violated

• Access to safe, non-toxic products

• Clear and accurate product information

• The ability to choose freely among products

Which act was established in response to the 2007-2008 financial crisis?

• Dodd-Frank Wall Street Reform and Consumer Protection Act

• Federal Trade Commission Act

• Lanham Act

• Sherman Antitrust Act