The purpose of consumer protection laws is
a. to prohibit unfair business practices.
b. to set minimum product standards.
c. to provide procedures for correcting wrongs.
d. all of these.
D
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A firm's ________ is determined by the number of separate items within the same category
A) brand equity B) product mix width C) product line length D) product quality E) product mix
A firm that is able to make quick changes in order to gain a competitive advantage is demonstrating its
A. leverage. B. analytics. C. sustainability. D. agility.
If some part of a shipment of goods does not conform to the contract, the
a. seller generally must be given an opportunity to cure the defect. b. buyer can immediately reject the entire shipment and automatically cancel. c. buyer cannot accept the part that is conforming. d. buyer must accept the shipment at a reduced price.
When a product name becomes generic:
A. the firm must use black-and-white packaging B. competitors are prohibited by law from using the trademark C. the price will have to drop to appeal to lower-income consumers D. the product name is no longer recognized as the exclusive property of one firm E. a firm can reapply for exclusive trademark protection at the U.S. Patent Office