Sierra Bikes,Inc

question 6

Multiple Choice

Sierra Bikes,Inc. ,and Tess enter into a contract for the sale of a mountain bike.Sierra,a merchant who deals in goods of the kind sold,makes implied and express warranties in connection with the sale.The Magnuson-Moss Warranty Act,which applies to the warranty,attempts to prevent deception in warranties by

• A)displacing the UCC as the primary source of warranty rules.
• B)making warranties easier to understand.
• C)prohibiting disclaimers of warranties.
• D)requiring sellers to give written warranties for consumer goods.

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Definitions:

Utility Function

A representation in economics of how a consumer ranks different goods or bundles of goods.

Interest Rate

The proportion of a loan charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding.

Consumption

The act of using goods and services for personal use, satisfaction, or to fulfill needs, playing a crucial role in economic theories concerning demand and spending.

Utility Function

A mathematical representation that ranks an individual's preferences over a set of goods and services, showing the level of satisfaction or utility those goods or services provide.