When Digital Video Recorders (DVRs) Were First Introduced, the Price

question 21

Multiple Choice

When digital video recorders (DVRs) were first introduced, the price was very high, often preventing the average consumer from purchasing one. Today, as a result of increased competition in the market, DVRs are significantly cheaper. By reducing the price of these products and ensuring a large number of product offerings, competition has promoted which consumer right?

• A) the right to be informed
• B) the right to be heard
• C) the right to quality products
• D) the right to choose

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Definitions:

Express Contract

A contract in which the terms are specifically stated by the parties, either orally or in writing.

Executed Contract

A contract that has been fully performed and completed by all parties involved.

Implied-in-law Contract

A type of contract formed by the courts where no explicit agreement exists between the parties, but an obligation is imposed to prevent unjust enrichment.

Binding Contract

An agreement between two or more parties that is legally enforceable in a court of law.