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Chapter 3
Consumers
Question | Answer |
---|---|
Competiton | Is a contest among sellers to win customers. Helps keep prices reasonable |
Monopoly | A company which had an unfair advantage over competitors in an area of business. |
Redress | To seek and receive a remedy, such as money or other compensation |
Warranty | A company's promise that its product will meet specific standards over a given time period, or the company will repair or replace it. or five a redund |
Full Warranty | A written promise that the company will repair or replace a defective product at no charge |
Better Business Bureau (BBB) | A nonprofit, business-sponsored agency with local offices dedicated to educate consumers, helping to resolve disputes, and promoting honest business practices |