Because They Are Intangible, Durable Goods Normally Require More Quality

question 56

True/False

Because they are intangible, durable goods normally require more quality control, supplier credibility, and adaptability than either services or nondurable goods.

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Definitions:

Potential Borrowers

Individuals or entities who may be interested in or eligible for taking out a loan but have not yet entered into a borrowing agreement.

Regulation Z

A federal law that provides protection for consumers in credit transactions and is part of the Truth in Lending Act.

Truth-In-Lending Act

A federal law designed to promote informed use of consumer credit by requiring disclosures about terms and costs.

Retail Installment Sale

A transaction where the buyer pays for goods in regular installments while the seller retains ownership until the full price has been paid.