If You Have a Dispute Over an Item on Your

question 128

Multiple Choice

If you have a dispute over an item on your monthly credit statement,you should

• A)not pay any part of the bill until the matter is resolved since a payment is an admission of guilt.
• B)call the creditor on the phone,explain the dispute,and request a revised statement.
• C)notify the creditor in writing,indicate the nature of your position,and pay any amount that is not disputed.
• D)pay the disputed amount before contesting the charge.

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Definitions:

Market Share

The proportion of the total sales or output produced in a market by a single company, often used as an indicator of competitiveness.

Behavioral Economics

A field of economics that examines how psychological, cognitive, emotional, cultural, and social factors affect economic decisions of individuals and institutions.

Health Club Memberships

Fees paid, usually on a monthly or annual basis, for access to a health club or gym's facilities and services.

Horizontal Differentiation

A market strategy where products are made to appear different from competitors' products in ways other than price, such as through branding, packaging, or quality variations.