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Chapter 3

Consumers

QuestionAnswer
Competiton Is a contest among sellers to win customers. Helps keep prices reasonable
Monopoly A company which had an unfair advantage over competitors in an area of business.
Redress To seek and receive a remedy, such as money or other compensation
Warranty A company's promise that its product will meet specific standards over a given time period, or the company will repair or replace it. or five a redund
Full Warranty A written promise that the company will repair or replace a defective product at no charge
Better Business Bureau (BBB) A nonprofit, business-sponsored agency with local offices dedicated to educate consumers, helping to resolve disputes, and promoting honest business practices
Created by: pichardoa4
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