Which of the Following Remedies Are Available to a Consumer

question 41

Multiple Choice

Which of the following remedies are available to a consumer for a major failure to comply with a consumer guarantee?

• A)Rejection of the goods,plus compensation and damages for any foreseeable loss.
• B)Rejection of the goods or compensation plus damages for any foreseeable loss.
• C)Rejection of the goods or compensation.
• D)Rejection of the goods,plus compensation or damages for any foreseeable loss.

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Definitions:

Inferior Good

A type of good for which demand decreases as the income of the consumer increases, typically because consumers will choose higher quality substitutes when they can afford them.

Demand Curve

A graphical representation of the relationship between the price of a good or service and the quantity demanded for a given period, typically showing a downward slope from left to right.

Elasticity of Demand

A measure of how much the quantity demanded of a good responds to a change in the price of that good, indicating the good's sensitivity to price changes.

City Revenues

The income generated by a municipality from sources like taxes, fees, and grants which is used to fund public services.