Consumer Definitions
5 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

According to the definition provided, who would NOT be considered a consumer?

  • A person who buys goods for personal use
  • A person who hires a service for personal use
  • A person who buys goods for resale (correct)
  • A person who hires a service for commercial use

    • What is the key requirement for someone to be considered a consumer?

  • Paying a consideration for goods or services (correct)
  • Using goods or services with approval
  • Buying goods for personal use
  • Hiring services for personal use

    • Which of the following is NOT included in the definition of a consumer?

  • A person who hires a service for personal use
  • A person who avails of services with approval
  • A person who obtains goods for resale (correct)
  • A person who buys goods for personal use

    • What is the significance of the phrase 'under any system of deferred payment' in the definition of a consumer?

    <p>It includes cases where payment is made in installments</p> Signup and view all the answers

    Who would be considered a consumer under the provided definition?

    <p>A person who buys goods for personal use and pays in installments</p> Signup and view all the answers

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser