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Chapter 11: Legal Aspects of Business questions with verified answers
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Chapter 11: Legal Aspects of Business questions with verified answers
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Chapter 11: Legal Aspects of BusinessMonopoly - correct answer ✔✔When only one company provides a product or service without
competition.
Price Discrimination - correct answer ✔✔Setting different prices for different customers.
False Advertising - correct answer ✔✔Advertising that is misleading in some important way, including
the failure to reveal facts about possible results from using the advertised products.
Bankruptcy - correct answer ✔✔A legal process that allows the selling of assets to pay off debts.
Patent - correct answer ✔✔An agreement in which the federal government gives an inventor the sole
right for 20 years to make, use or sell an invention or a process
Copyright - correct answer ✔✔An agreement which gives an author the sole right to reproduce, publish
or sell a literary or artistic work for the life of the author, typically , plus 70 years.
Trademark - correct answer ✔✔A distinguishing name, symbol, or special mark placed on a good or
service legally reserved for the sole use of the owner.
Information Liability - correct answer ✔✔The responsibility for physical or economic injury arising from
incorrect data or wrongful use of data.
Cookies - correct answer ✔✔Files of information about the user that some Websites create and store on
the user's own computer.
Interstate Commerce - correct answer ✔✔Business transactions that cross state lines, such as products
that are produced in one state and sole in other states.
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