Exam 6: Community, Consumerism, and the Media

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A) product
B) collaboration
C) consumer right
D) liability
E) warranty

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A) choose
B) have information
C) be heard
D) privacy
E) safety

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A) The Consumer Product Safety Commission (CPSC) regulates protecting the public against unreasonable risks of injury associated with consumer products, through setting and enforcing safety standards.
B) The Federal Trade Commission (FTC) regulates unfair or deceptive acts or practices of business.
C) The Food and Drug Administration (FDA) regulates the safety of foods, drugs, cosmetics, and medical devices.
D) The National Highway Traffic Safety Administration (NHTSA) regulates how roads must be built to meet national standards to minimize the number of accidents.
E) The Securities and Exchange Commission (SEC) regulates the protection of investors; maintains fair, orderly, and efficient markets; and facilitates capital formation.

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A) Business groups never complain about the media because they know that it is always fair and unbiased.
B) The media provide information for those in the market and nonmarket environment so that people know what is going on in the world, primarily so that business, society and government can make better decisions.
C) Factual stories report on why the story is important and what implications it has on society.
D) The media shape individual attitudes and values about issues that result in public sentiment.
E) The media are used to develop nonmarket issue agendas so that business, society and government can determine which issues they will pursue.

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A) Product liability litigation is the process of a business (offendant) filing a lawsuit against a firm (defendant) to be compensated for harm resulting from defective products.
B) Product liability litigation is the process of a consumer (offendant) filing a lawsuit against a firm (defendant) to be compensated for harm resulting from defective products.
C) Product liability litigation is the process of a consumer (plaintiff) filing a lawsuit against a firm (defendant) to be compensated for harm resulting from defective products or business actions.
D) Product liability litigation is the process of a consumer (plaintiff) filing a lawsuit against a firm (defendant) to be compensated for harm resulting from defective products but not from business actions.
E) Product liability litigation is the process of a consumer (plaintiff) filing a lawsuit against a firm (defendant) through the federal court system to be compensated for harm resulting from defective products.

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The media play a crucial role in the wor...

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Media bias refers to the perceived or re...

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A) Community power
B) Eminent domain
C) Layoffs and plant closings
D) Corporate social responsibility
E) International treaties

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A) Reality
B) Truth
C) Audience
D) Cover-up
E) Summary points

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D

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False

A) Community involvement
B) Corporate stewardship
C) Corporate interaction
D) Government intervention
E) Eminent domain

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A) The right to safety protects consumers against products that are hazardous to their health and life.
B) The right to be informed protects consumers against the marketing of products through fraudulent, deceitful, or grossly misleading information, advertising, labeling, or other practices.
C) The right to satisfaction assures consumers they will be satisfied with products they choose.
D) The right to be heard assures that consumer interests will receive full and sympathetic consideration in the formulation of government policies, laws, and regulation.
E) The right to privacy protects consumers from misuse of personal information.

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C

A) An express warranty is an explicit claim made by the producer to the consumer.
B) An implicit warranty is an unwritten guarantee that the product is adequate to meet reasonable expectations for intended purposes.
C) A full warranty must express unconditional assurance that the product will be replaced or repaired within a reasonable time and without charge.
D) A limited warranty conditionally excludes certain parts of the product or particular types of defects from coverage.
E) An extended warranty is the same as an express warranty.

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A) Consumers, advocates
B) Strategists, advocates
C) Customers, consumers
D) Philanthropists, customers
E) Consumers, customers

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