A(n) _____ is collected by a seller at each stage of a transaction.
Answer
Correct Answer:
Value added tax
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A bag of snack food says, ""walmart's corn chips."" this is an example of a(n) ________ brand.
Answer
Correct Answer:
Private
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Why was Samsung accused of nonchalantly handling their second recall of the Galaxy Note 7 phone?
Answer
Correct Answer:
Samsung buried the information regarding the status of the smartphone on their web page instead of aggressively advertising it.
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What was a primary frustration related to ethical principles that automakers and regulators had with the way the CEO handled the prolonged airbag problem at Takata?
Answer
Correct Answer:
The poor governance and lack of transparency
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In the Chevy Cobalt Ignition Switch Crisis case study, what was the driving force behind GM’s reluctance to bring closure to the investigation?
Answer
Correct Answer:
Lack of leadership
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In the Chevy Cobalt Ignition Switch Crisis case study, when DeGiorgio finally did authorize a change in the ignition switch, why was the change difficult to track?
Answer
Correct Answer:
DeGiorgio did not change the part number, which complicated the investigation.
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In the Chevy Cobalt Ignition Switch Crisis case study, the lead engineer, DeGiorgio, signed off on the faulty ignition switch, considering the problem more convenience than safety related. How is it possible that no one knew about DeGiorgio’s authorization during 10 years of investigation?
Answer
Correct Answer:
It was the failure within the organization to track authorizations and accompanying test results for the vehicle’s different technologies.
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Safety continues to be a concern and a challenge for automakers. With car-crash fatalities due to human error, such as texting while driving, on the rise, what is the auto industry’s response?
Answer
Correct Answer:
High-tech safety packages and eventually a driverless car
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What was the catalyst that caused a shift in the auto industry’s thinking about safety?
Answer
Correct Answer:
Ralph Nader’s book, which exposed neglected flaws in design leading to safety issues
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Initially, the auto industry was more focused on design, style, and performance than on ______, believing that “cars are safe, drivers cause accidents.”
Answer
Correct Answer:
Safety
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In the 1970s, what challenged the U.S. auto industry?
Answer
Correct Answer:
The demand for more fuel-efficient and safer automobiles
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What is likely to preclude the United States from mandating plain packaging for tobacco products?
Answer
Correct Answer:
The First Amendment
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Why did Australia choose to use plain packaging on tobacco products?
Answer
Correct Answer:
They felt the advertising and marketing on the product promoted sales.
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Who required a health warning on all cigarette packages, prohibited advertising at schools, and forbade ads directed at youths under age 25?
Answer
Correct Answer:
Federal Trade Commission
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Marketing Uptown cigarettes to blacks is as an example of ______.
Answer
Correct Answer:
Targeted marketing
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How did the tobacco industry react to doctors suspecting cigarette smoking was hazardous to a smoker’s health?
Answer
Correct Answer:
They ran ads insisting smoking was safe to reassure the public
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High excise taxes, age requirements, and substantial restrictions on advertising and promotion have led to a(n) ______ in cigarette smoking.
Answer
Correct Answer:
Decline
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Advertising has been condemned for being ______ because it plays on people’s desires for “social acceptability” or “personal beauty.”
Answer
Correct Answer:
Manipulative
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Providing consumers with product information and persuading them to purchase that product is the purpose of ______.
Answer
Correct Answer:
Advertising
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One way to control the sale of predatory products is to ______.
Answer
Correct Answer:
Confine them to a defined subset of customers
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Cigarettes are an example of a ______.
Answer
Correct Answer:
Predatory product
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If a product’s risks are known and they are judged to be acceptable or reasonable by the buyer based on the benefits the buyer expects to receive from using that product, the product is considered _____.
Answer
Correct Answer:
Safe
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Sellers have a duty to ensure that products perform as promised. This is called ______.
Answer
Correct Answer:
Due care
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Why is there more focus on caveat vendor?
Answer
Correct Answer:
Sellers know more about their products than buyers.
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In recent years, the trend has shifted to the philosophy of ______.
Answer
Correct Answer:
Let the seller beware
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Corporations have ______ responsibility under caveat emptor and it is up to the consumer to be circumspect about the products they buy.
Answer
Correct Answer:
Narrow
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Caveat emptor stands for ______.
Answer
Correct Answer:
Let the buyer beware
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Which are the two prevailing philosophies that corporations tend to have about the scope of their obligation to customers?
Answer
Correct Answer:
Caveat emptor and caveat vendor
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