What Is Not a Correct Statement Concerning the Fair Debt

question 35

Multiple Choice

What is not a correct statement concerning the Fair Debt Collection Practices Act?

• A) It prohibits improper practices in the collection of consumer debts.
• B) It applies to original creditors who are collecting from original debtors.
• C) The validity of the debt is not a defense.
• D) Violators are liable to debtors for damages.

---

Definitions:

Control Over Price

The ability of a firm or market participant to influence or set the price of goods or services, often seen in markets with limited competition.

Steel

An alloy of iron and carbon, and sometimes other elements, widely used in construction and manufacturing due to its strength and durability.

Interdependence

A relationship between entities where they rely on each other for resources, information, or trade.

Oligopolistic Firms

Companies operating in an oligopoly market structure, characterized by a limited number of firms controlling a large portion of the market share.