Reference no: EM131487716

Part A -

1. What are the rights of a consumer?

2. What is the difference between a written contract and an oral contract?

3. What are the rights that every credit card user is entitled to?

4. What are the bureaus under the FTC?

5. What are the different types of warranties?

Part B -

1. Ted applied for a credit card and he was approved. The next week, he found a really nice electronic keyboard and amp set that he wanted. It was a bit out of his price range for a cash purchase, at $1000.00 so he decided to use his credit card for the purchase. Should he? Explain your reasoning.

2. Buying a car is a big decision. Explain what protections a buyer would receive buying from a dealer. A private seller? Which one is legally safer, and why?

3. Why are both consumer rights and consumer responsibilities important in a marketplace? Explain your reasoning.

4. Credit card users are entitled to certain rights under the Fair Credit Reporting Act, explain why you think these rights are important? Use evidence to support your claim. 

5. Explain why both individual consumers and businesses are important to the stability of an economy. Use evidence to back up your answer.