When Toysmart

question 84

Multiple Choice

When Toysmart.com filed for bankruptcy in June 2000, it listed its customer database as one of its assets even though it had assured its customers it would never disclose their information to any third party. People who had purchased products from Toysmart and were a part of its database were upset when they learned their private information was being treated as property that was for sale. These customers believed that according to the Consumer Bill of Rights, they should know how their private information would be used. In other words, Toysmart's former customers had a right to

• A)choose.
• B)be informed.
• C)be heard.
• D)safety.
• E)happiness.

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Definitions:

Consuming One More Unit

The action or decision of using up an additional unit of a good or service and its impact, often related to marginal utility.

Budget Line

A graphical representation that shows all possible combinations of two goods that an individual can afford given their income and the prices of the goods.

Consumer Income

The total money earned by consumers from all sources, including wages, salaries, investments, and benefits, which impacts their purchasing power.

Price

The amount of money required to purchase a good or service, determined by factors such as supply and demand, production costs, and market competition.