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BUS 309 Week 6 Quiz

BUS 309 Week 6 Quiz
BUS 309 Week 6 Quiz -

Question 1

Which statement is true from an ethical perspective?

  • The argument for strict liability is basically utilitarian.
  • Strict liability is identical with absolute liability.
  • The concept of due care is identical with that of caveat emptor.
  • The argument for due care is basically Kantian.

 

Question 2

The goal of advertising is

  • to persuade people to purchase the product.
  • to provide information about goods and services.
  • to provide information about prices.
  • to subsidize the media.

 

Question 3

Terms like “can be,” “as much as,” and “help,” are examples of

  • concealment of facts.
  • ambiguity.
  • truth in advertising.
  • consumer confidence.

 

Question 4

Harvard business professor Theodore Levitt has

  • drawn an analogy between advertising and art.
  • proven the possibility of effective subliminal advertising.
  • argued that the process of production today creates the very wants it then satisfies.
  • invented the concept of "puffery".

 

Question 5

The case of MacPherson v. Buick Motor Car in 1916 changed product liability law. As a result of it, the courts

  • permitted consumers to sue manufacturers with whom they had no contractual relationships.
  • adopted the principle of caveat emptor.
  • permitted consumers to sue the retailer from whom they had purchased the product.
  • adopted the principle of strict liability.

 

Question 6

The terms “best, finest, and most” are examples of

  • puffery.
  • truth in advertising.
  • psychological appeals.
  • trust building statements.

 

Question 7

"Puffery" is an example of which of the following deceptive or misleading advertising techniques?

  • ambiguity
  • psychological appeals
  • exaggeration
  • concealed facts

 

Question 8

Which of the following is an example of price gouging?

  • Selling World Series Tickets for $300.
  • New York hotels that doubled or tripled their prices in the aftermath of the September 11, 2001, attacks.
  • Having to pay above the seller's original asking price for a home.
  • Increasing the price of lawn movers in the spring and summer.

 

Question 9

Caveat emptor means

  • strict product liability
  • due care
  • let the buyer beware
  • the customer and manufacturer meet as equals

 

Question 10

According to the legal doctrine of strict product liability,

  • the producer of a product is responsible for any injury the consumer suffers.
  • consumers must assume all risk whenever they buy a product.
  • product liability presupposes negligence by more than one party.
  • a manufacturer need not be negligent to be held liable for a defective product.

 

Question 11

Legal paternalism is the doctrine that the law

  • may justifiably restrict the freedom of the individual for his or her own good.
  • may justifiably forbid lawsuits against those who act paternalistically.
  • should encourage business to develop a paternal sense of responsibility for consumers.
  • should only restrict people's freedom in order to protect other people.

 

Question 12

For years Bayer aspirin advertised that it contained "the ingredient doctors recommend most." This is an example of

  • ambiguity.
  • exaggeration.
  • psychological appeals.
  • concealed facts.

 

Question 13

Critics of advertising generally agree that

  • advertising rarely gives consumers much useful information.
  • brand loyalty increases price competition.
  • restrictions on advertising violate the moral rights of advertisers.
  • advertising can only influence us if we want it to.

 

Question 14

Before the case of MacPherson v. Buick Motor Car in 1916, the law based a manufacturer's liability for injuries due to a defective product on

  • the principle of strict liability.
  • the direct contractual relationship between the producer and the consumer.
  • the principle of the reasonable person.
  • whether or not the manufacturer exercised due care.

 

Question 15

Which statement is accurate in its description of consumer protection?

  • The Consumer Product Safety Commission has the power to order recalls.
  • Statistics show that, in fact, safety regulations rarely succeed in increasing safety.
  • Critics agree that the cost of safety regulations and product recalls are negligible.
  • Safety regulations permit people to choose to save money by purchasing riskier (but less expensive) products.

 

Question 16

Which of the following best defines pollution permits?       

  • Requirement imposed by a governmental body.
  • Encourages voluntary action rather than coercing compliance.
  • Programs that charge firms for the amount of pollution they produce.
  • Programs that sell permits to companies that allow them to produce pollution.

 

Question 17

The requirement of due care:           

  • Recognized that consumers make purchases from a position of relative vulnerability.      
  • Recognized that manufacturers must exercise caution to prevent consumers from being injured by defective products.           
  • Recognized that some consumers might not be able to prove that manufacturers had behaved negligently.          
  • All of the above

 

Question 18

Which of the following statements reflects the human-centric view of the value of nature?        

  • Nature is valuable in and of itself.         
  • Nature has inherent value.        
  • Nature is valuable in so much as we, people, find it valuable.     
  • None of the above

 

Question 19

Which of the following can be considered when trying to decide on a fair price for a product?   

  • Material and production costs  
  • Operating and marketing expenses       
  • Profit margin    
  • All of the above

 

Question 20

A doctrine that holds that the manufacturer of a product has legal responsibilities to compensate the user of that product for injuries suffered because of the product's defective condition is known as:  

  • Partial liability  
  • Absolute liability          
  • Strict liability    
  • Total liability

 

Question 21

An approach to pollution control that uses fines and prosecution to penalize violations would best be described as:      

  • A regulatory approach
  • An incentive approach 
  • A pricing mechanism approach 
  • A pollution permit approach

 

 Question 22

Which of the following advertising techniques are often used to deceive or manipulate consumers?     

  • Ambiguity        
  • Concealment of facts
  • Psychological appeals  
  • All of the above

 

Question 23

When an advertisement can be interpreted in two or more ways, it is called:      

  • Concealment of facts   
  • Ambiguity
  • Exaggeration
  • Psychological appeals

 

Question 24

Government regulation forces supplies and manufacturers to:     

  • Keep their prices within a specific range.          
  • Adhere to quality or safety standards.
  • Produce a minimum amount of their product per month.
  • All of the above

 

Question 25

Which of the following best defines regulations?    

  • Requirement imposed by a governmental body.
  • Encourages voluntary action rather than coercing compliance.   
  • Programs that charge firms for the amount of pollution they produce      
  • Programs that sell permits to companies that allow them to produce pollution.

 

Question 26

Which of the following viewpoints is most consistent with the idea of naturalistic ethic? 

  • Nature is valuable because we can use it to make things.           
  • Nature is valuable because of its aesthetic beauty.         
  • Nature is valuable in and of itself.         
  • Nature is not valuable.

 

Question 27

Which of the following issues is important when we consider our consumption of resources?     

  • The availability of resources for other countries.
  • The availability of resources for future generations.        
  • Whether any nation has the right to disproportionately consume resources.        
  • All of the above

 

Question 28

An assessment of costs and benefits inevitably involves:  

  • Facts   
  • Monetary costs only    
  • False opinions  
  • Value judgments and factual uncertainties

Question 29

"Pollution permits" are an example of which of the following methods of achieving our environmental goals?

  • Pricing mechanisms      
  • Government subsidies  
  • A laissez-faire approach           
  • Regulations

 

Question 30

Which of the following best defines incentives?      

  • Requirement imposed by a governmental body.
  • Encourages voluntary action rather than coercing compliance.   
  • Programs that charge firms for the amount of pollution they produce.     
  • Programs that sell permits to companies that allow them to produce pollution.

 

Question 31

Many manufacturers provide warranties to:           

  • Assure consumers that they have paid the lowest price.
  • Assure consumers that they will receive a quality product.
  • Assure consumers that the product was manufactured domestically.
  • All of the above

 

Question 32

A policy that allows the government to sell permits to companies allowing them to generate a certain level of pollution would be best described as:          

  • A regulation     
  • An incentive     
  • A pricing mechanism    
  • A pollution permit

 

Question 33

Which of the following is true of nonmonetary values?      

  • They are difficult to evaluate objectively.           
  • They are easy to evaluate objectively.   
  • Rival economists easily agree on nonmonetary values.   
  • There are no nonmonetary values.

 

Question 34

Which of the following statements about strict liability is NOT true?       

  • Strict liability requires that a manufacturer compensate a user of a defective product for injuries suffered while using the product.     
  • Strict liability entails absolute liability.
  • Strict liability may result in legal paternalism.     
  • Strict liability is applicable even when a manufacturer has not been negligent in permitting a product defect to occur.

 

Question 35

The discipline that calculates the value of an ecosystem in terms of what it would cost to replace the benefits and services that ecosystem provides is called:

  • Ecology           
  • Ecosystem       
  • Ecological economics
  • Economics

 

Question 36

Which of the following is true of a regulatory approach to environmental problems?      

  • It proceeds on a case-by-case basis, dealing with each company's specific circumstances.         
  • It gives companies an incentive to do more than the minimum required by law.
  • It requires the EPA or other body to determine the most effective, feasible pollution-control technology for each different industry.
  • It involves the use of pricing mechanisms.

 

 

Question 37

Which of the following standards is most forgiving toward advertisements' deceptive techniques?       

  • The reasonable-consumer standard
  • The ignorant-consumer standard          
  • The “modified” ignorant-consumer standard     
  • None of the above. They are all equally forgiving.

 

Question 38

The airline industry is an example of an industry that:      

  • Is immune to legal paternalism. 
  • Is exempt from government regulation. 
  • Has embraced government regulation.  
  • Has opted to self-regulate instead of deferring to government regulation.

 

 

Question 39

Which of the following statements about implied warranties is NOT true?          

  • Implied warranties are implicit in the sale of a product.  
  • Implied warranties assure consumers that the products they purchase are fit for ordinary use.     
  • Implied warranties are explicitly stated on the packaging of the product.
  • Implied warranties guarantee products will meet some basic standard of functionality or quality.

 

Question 40

Critics of strict liability believe that:           

  • It places an unfair burden on manufacturers.
  • It places an unfair burden on consumers.
  • It places an unfair burden on both manufacturers and consumers.
  • It places an unfair burden on the government.

 

 

Question 41

Which of the following is an example of a retailer taking psychological factors into consideration when pricing an item    

  • Listing an item at $19.99 instead of $20 to convey a sense of value.      
  • Inflating the price of an item to make it appear more “high-end.”           
  • Raising the price of an item by 20% and then offering a 20% discount during a store-wide sale. 
  • All of the above

 

 

Question 42

Which of the following best represents the position argued by Derek Parfit?

  • We owe future generations a healthy planet with abundant resources.    
  • We should distribute resources fairly across generations.           
  • The policies regarding pollution and consumption we make today will determine who is born in the future, so we cannot make anyone’s life better by changing our policies.
  • None of the above

 

Question 43

Which of the following statements about psychological appeals is NOT true?     

  • Psychological appeals call upon the audience’s desire for things like power, prestige, and acceptance.   
  • Psychological appeals are often considered the most deceptive type of advertising technique.    
  • Psychological appeals can use subliminal advertising.    
  • Psychological appeals only appear in print advertisements.

 

 

Question 44

Reasonable-consumer standards:    

  • Prohibit advertising claims that would deceive reasonable people.         
  • Do not protect a gullible audience.        
  • Were traditionally upheld before the establishment of the Federal Trade Commission.    
  • All of the above

 

Question 45

The organization that was established to protect the public against unreasonable risks of injury associated with consumer products is the:     

  • Consumer Product Safety Commission
  • Food and Drug Administration 
  • Federal Trade Commission      
  • General Services Administration

 

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