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Ethical Business Ratings and Consumer Safety Quiz

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Ethical Business Ratings and Consumer Safety Quiz

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Questions and Answers

What is the main purpose of the organization that grades businesses on ethical practices?

To penalize businesses for unethical practices

To conduct research on safety and performance of products

To regulate the safety standards of products

To provide customers with proof of trustworthiness (correct)

What is the main focus of the subdivision of the Federal Reserve created in 2010?

Promoting consumer product safety

Conducting research into product-related injury

Monitoring business practices and protecting consumers from abuse (correct)

Developing uniform safety standards

What differentiates a scam from fraud?

Scams involve receiving goods different from what was expected, while fraud involves unauthorized money transfers

Scams involve authorized money transfers without receiving the promised goods, while fraud involves losing money (correct)

Scams involve losing money, while fraud involves receiving goods different from what was expected

Scams involve unauthorized money transfers, while fraud involves authorized transactions

What is the primary objective of the US government agency created in 1972?

<p>Promoting consumer product safety (C)</p> Signup and view all the answers

What do businesses have to do to obtain and maintain a rating from the private organization that grades them on ethical practices?

<p>Pay for the rating (D)</p> Signup and view all the answers