Podcast
Questions and Answers
What does the Bureau of Consumer Protection do for consumers?
What does the Bureau of Consumer Protection do for consumers?
The Bureau of Consumer Protection collects complaints, conducts investigations, sues companies and people that break the law, develops rules to maintain a fair marketplace, and educates consumers and businesses about their rights and responsibilities.
What is the purpose of consumer rights?
What is the purpose of consumer rights?
Consumer rights and consumer protection law provides a way for individuals to fight back against abusive business practices.
Identify the percent increase in sales of jackets compared to total coat sales.
Identify the percent increase in sales of jackets compared to total coat sales.
Which of the following are accurate assessments of trends displayed in the sales of stuffed toys?
Which of the following are accurate assessments of trends displayed in the sales of stuffed toys?
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Determine whether there was a percent increase or decrease in the number of trench coats sold.
Determine whether there was a percent increase or decrease in the number of trench coats sold.
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What consumer protection agency is known by the acronym SEC?
What consumer protection agency is known by the acronym SEC?
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How many total computers will be sold in July if the sales trend continues from May to June?
How many total computers will be sold in July if the sales trend continues from May to June?
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Which agency is responsible for supervising programs related to housing needs and community development?
Which agency is responsible for supervising programs related to housing needs and community development?
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Which of the following is not one of the eight recognized consumer rights?
Which of the following is not one of the eight recognized consumer rights?
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How many Dinztop computers will be sold in July if current trends continue?
How many Dinztop computers will be sold in July if current trends continue?
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Which of the following functions is most closely connected with the CPSC?
Which of the following functions is most closely connected with the CPSC?
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What percent of the market will parkas occupy in 2008 if current trends continue?
What percent of the market will parkas occupy in 2008 if current trends continue?
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How do the choices consumers make impact business decisions?
How do the choices consumers make impact business decisions?
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Study Notes
Consumer Protection Overview
- The Bureau of Consumer Protection addresses consumer complaints, investigates violations, sues offenders, establishes fair marketplace rules, and educates the public about rights and responsibilities.
- Consumer rights laws empower individuals to challenge exploitative business practices and hold sellers accountable.
Sales Trends and Calculations
- Sales of jackets increased by 18.8 percentage points faster than total coat sales.
- Teddy bear sales decreased by approximately 2.9% from September to October.
- The percentage of trench coats sold increased by 23.3%.
Consumer Protection Agencies
- The Securities and Exchange Commission (SEC) oversees financial securities.
- The Department of Housing and Urban Development (HUD) addresses housing needs and community development.
- The Consumer Product Safety Commission (CPSC) focuses on product safety and sets safety standards.
Consumer Rights
- The eight recognized consumer rights include the right to safety and the right to choose but notably do not include the right to dignity.
Future Sales Predictions
- A store is projected to sell 721 total computers in July based on sales changes from May to June.
- Estimated sales for Dinztop computers in July are 98, based on continuation of sales trends.
Market Impact
- Consumer choices significantly influence business decisions as companies adapt to buying trends to enhance profitability.
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Description
Explore key concepts of consumer rights and protections through these flashcards. Learn about the role of the Bureau of Consumer Protection and the foundational principles behind consumer rights. This quiz is essential for understanding consumer advocacy and legal frameworks.
