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Question (Category: General-Questions :General-Academic-Questions,General-Questions :General-Academic-Questions)
1. The consumers who think ahead, consider, and watch every penny they spend, knowing how their choices will affect their preferences are known as: (Points : 1) Irrational utility minimizers Rational utility maximizers Rational consumption maximizers All the above 2. The ________ theory of business39 duties to consumers claims that a business has four main moral duties: the basic duty of (a) complying with the terms of the sales contract, and the secondary duties of (b) disclosing the nature of the product, (c) avoiding misrepresentation, and (d) avoiding the use of duress and undue influence. (Points : 1) Contractual Commercial Competitive Consumptive 3. In the Market Approach to consumer protection, if consumers do not place a high value on safety (or are unwilling to pay for it), then it is wrong to force them to accept higher levels of safety through regulation. (Points : 1) True False 4. Research has shown people are irrational and inconsistent when weighing choices based on probability estimates of future costs and payoffs. (Points : 1) True False 5. Although there are some advertisements that are intended to manipulate, such advertisements do not violate the consumer39s right to be treated as a free and equal rational being. (Points : 1) True False 6. The due care theory of the manufacturer39s duties to consumers is based on the idea that consumers and sellers do not meet as equals and that the consumer39s interests are particularly vulnerable to being harmed by the manufacturer, who has a knowledge and an expertise that the consumer lacks. (Points : 1) True False 7. The most common criticism of advertising concerns its effect on the consumer39s beliefs. (Points : 1) True False 8. Arguments against discrimination are: (Points : 1) Utilitarian, rights, and justice arguments Rights, entitlements, and fairness arguments Justice and Kantian arguments Civil and criminal All the above 9. quotIt might be true that society as a whole would benefit by having some group discriminated againstquot is aan _____ argument for discrimination. (Points : 1) Kantian


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