Bert Bought a Used Car Last Month for $1,200

question 70

Multiple Choice

Bert bought a used car last month for $1,200. He just found out he needs a new transmission that will cost $1,800 to install. He is asking you for advice as to what he should do. What financial principle from Chapter One would you use to base your advice on?

• A) Waste not, want not, smart spending matters
• B) Mind games and your money
• C) Protect yourself from major catastrophes
• D) None of the above would be correct.

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Definitions:

Design Defect

A flaw in the planning or design of a product that makes it inherently unsafe or faulty.

Alternative Design

A different approach or solution, often proposed to address flaws in an original design concept.

Market-Share Liability

A legal theory holding manufacturers proportionately liable for damages based on their market share of a harmful product.

Prescription Drugs

Medications that are legally dispensed only with a medical prescription due to their potential side effects or risk of misuse.