A Business Model Deals with How a Business Makes Customers

question 105

True/False

A business model deals with how a business makes customers want to buy their product.

Recognize the sources that provide data to credit bureaus and the duration such information is reported.

Know the rights of consumers when a credit application is denied and the procedural steps to follow thereafter.

Understand the obligations of creditors and credit bureaus in handling consumer complaints, billing disputes, and identity theft situations.

Recognize the legal protections against abusive, deceptive, and unfair practices by debt collectors.

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Definitions:

Trade Modification

An alteration or change to the terms of a trade agreement or contractual relationship.

Consumer Transaction

Any transaction between a seller and a buyer for goods or services intended for personal, family, or household use.

Real Property

Pertains to land and anything permanently attached to it, including buildings and structures.

Right to Revoke Acceptance

A legal prerogative under certain conditions allowing a buyer to cancel a contract after having previously accepted goods or services.