The Term Cure Refers to the Right of the Buyer

question 22

True/False

The term cure refers to the right of the buyer to reject, adjust, or replace nonconforming goods.

---

Definitions:

Consumer Good

Goods that are produced for personal consumption by the general public.

Inelastic

Describing demand that is relatively unresponsive to changes in price.

Quantity Demanded

This is the total amount of a good or service that consumers want to buy at a specific price level, within a certain period.

Derived Demand

The demand for a factor of production or intermediate good that occurs as a result of the demand for another good or service.