In Addition to Seeking Ideas from More Well-Known Sources, Organizations

question 88

Multiple Choice

In addition to seeking ideas from more well-known sources, organizations also get ideas from universities, inventors, and smaller, nontraditional firms. For example, General Mills partnered with Brigham Young University to license its patent for

• A) scones with coffee-flavored cream frosting.
• B) an Omega-3 enriched SKU for the Philadelphia cream cheese line.
• C) a carbonated yogurt called Go-Gurt Fizzix.
• D) deep fried chicken skins for people who cannot eat pork.
• E) a crispy baked macaroni and cheese snack that can be eaten out of a bag like Cheetos.

Recognize the extent of lemon laws, including coverage for used cars and motorcycles.

Comprehend the roles and formation of the Consumer Financial Protection Bureau.

Identify consumer rights under the Fair Credit Reporting Act.

Understand consumer obligations and rights after signing contracts and the specifics of rescinding contracts.

---

Definitions:

Lake Wobegon Effect

The tendency for people to overestimate their abilities or achievements relative to others, named after the fictional town where all the children are above average.

Above Average

Performance or measures that exceed the normal or expected benchmark.

Group Claims

Refers to assertions or demands made by a group of individuals, often in a legal or policy context, indicating a collective interest or right.

Hindsight Bias

The tendency to perceive events as having been predictable after they have already occurred.