GBA 383 exam 3 Solved Papers - Questions with Complete Solutions Which of the following unethical practices occurs when consumers are signed up and billed for third-party services without their knowledge or consent?Fraud and deception Due care Coercion Cramming - Correct Answers ✅Cramming In terms of product safety, what is the potential result of government intervention in consumer markets?Safety is reduced to a commodity that must be provided even if unwanted.Markets become unfair, inefficient, and coercive.The government bears the added cost of incorporating safety. 1 / 3
GBA 383 exam 3 Solved Papers - Questions with Complete Solutions Consumers will pay extra for safety if sellers provide it. - Correct Answers ✅Markets become unfair, inefficient, and coercive.Which of the following views supports the idea that when consumers use products in a manner that is careless, and then become injured, the responsibility is on the consumer, not the manufacturer?Contractual Due-care Social cost Irrational purchases - Correct Answers ✅Contractual Which of the following is a common problem with the market approach to consumer protection?Consumers are often not rational about product risk or probabilities.Consumers have too much information and won't take the time to understand it. 2 / 3
GBA 383 exam 3 Solved Papers - Questions with Complete Solutions The government has made excess information too inexpensive and easy to find.Consumers expect the government to monitor all aspects of safety. - Correct Answers ✅Consumers are often not rational about product risk or probabilities.Which of the following represents the idea that a business has a moral responsibility to fully explain what a buyer is purchasing and exactly what the terms of the sale are?The duty not to misrepresent The duty not to coerce The duty to comply with express claims The duty of disclosure - Correct Answers ✅The duty of disclosure Which of the following is one of the main objections to the contractual view of a business firm's duties to its customers?The use of indirect agreements that cover implied warranties.
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