Copy

right

© b

y Th

e M

cGra

w-H

ill C

ompa

nies

, Inc

. All

right

s re

serv

ed. P

erm

issi

on is

gra

nted

to re

prod

uce

this

pag

e fo

r cla

ssro

om u

se.

65

Section Answer Keys

Chapter 32 Section 32.1 Answer Keys

Chapter 32 Extended Product Features Section 32.1 Warranties

Review Key Concepts 1. An express warranty is a warranty that is clearly stated, either in writing or verbally, to

encourage a customer to make a purchase. An implied warranty is one that takes effect automatically by state law when a purchase is made.

2. A full warranty is one that completely covers the repair or replacement of any defect in a consumer product. A limited warranty may exclude certain parts of the product from coverage or require the customer to bear some of the expense for repairs resulting from defects.

3. A warranty disclaimer is a statement that contains exceptions to and exclusions from a warranty.

Practice AcademicsEnglish Language Arts

4. Students should write a one-page paper in which they discuss a specifi c product, the type of warranty it comes with, the terms of the warranty, and whether the warranty is appropriate for this type of product. For example, a GE® 22-cubic-foot refrigerator with bottom freezer comes with a one-year limited warranty that covers functional parts and labor costs, but does not cover food spoilage. An extended warranty for up to 15 years is available at an additional cost. It covers functional parts and labor costs and includes a $100 allowance for food spoilage.

Mathematics

5. 35% ($1,250,420�$3,560,700)

051_078_ME_A_SAK_C25_38.indd Page 65 1/14/11 4:51 PM s-74user051_078_ME_A_SAK_C25_38.indd Page 65 1/14/11 4:51 PM s-74user /Volumes/101/GO00764/MARKETING_ESSENTIALS_2012/ANCILLARY/.../Volumes/101/GO00764/MARKETING_ESSENTIALS_2012/ANCILLARY/...

PDF Pass