About This Chapter
MTEL Business: Product Liability & Consumer Protection - Chapter Summary
The lessons in this chapter provide a brief but informative overview of consumer rights and laws, product liability and unfair competition. You will have the opportunity to review definitions, examples and federal laws. With a full grasp of these concepts, you should be able to demonstrate knowledge of and apply the following to specific questions on the MTEL Business exam:
- Consumer protection and product liability
- Types of product liability
- Government agencies responsible for consumer protection
- Types of product defects
- How credit is protected
- Main federal law on financial privacy protection
- Types of unfair competition
Our expert instructors guide you easily through the material, using simple narrative text and referencing sample scenarios to support the topics. Once you have viewed the lessons, take the self-assessment quizzes to gauge what you have learned and prepare to answer similar multiple choice questions on the MTEL Business exam.
MTEL Business: Product Liability & Consumer Protection - Chapter Objectives
The Product Liability & Consumer Protection chapter allows you to study specific aspects of business law and legal ethics you will be questioned on when taking the MTEL Business exam. This exam assesses your understanding of business practices and processes in management, marketing, accounting, finance and entrepreneurship. Business law questions appear in the management subarea which accounts for 21% of the multiple choice section. Multiple choice questions reflect 80% of the total exam, with the remaining 20% represented by two open-response questions. The exam is computer-based.
MTEL exams are teacher licensure tests used in Massachusetts to assess elementary, middle and high school educators. Teachers can take exams in specific content areas, such as biology, dance, health, history, music, technology or visual art. Exams are also administered in communication and literacy skills and general curriculum concepts as well as in general math, science and English. You must score a 240 to pass an MTEL exam.
1. What Is Consumer Protection? - Product Liability, Laws & Rights
Consumer protection refers to the laws and other forms of government regulation designed to protect consumers. One form of consumer protection is product liability. This lesson explains consumer protection and product liability.
2. Government Regulation Agencies for Consumer Protection
You will learn about the government regulatory agencies that protect consumers. We'll discuss what the acronyms CFPB, CPSC, FTC, FDA, NHTSA, and SEC stand for and their organizations' responsibilities.
3. Defective Products Liability
Businesses are held responsible when their products are defective. There are three types of possible product liability defects. This lesson explains the three possible types of defects for which businesses can be liable.
4. What Is Product Liability? - Definition & Laws
Businesses are held responsible when their products are defective, known as product liability. Liability can be based on one or more of three theories: Breach of warranty, negligence, and strict liability. This lesson explains these three theories.
5. What Is Credit Protection? - Laws & Services
Credit protection is a form of consumer protection that is designed to help preserve credit health for both individuals and businesses. This lesson discusses the laws and services involved in credit protection as well as the FTC's role.
6. What Is Privacy Protection? - Laws & Rights
Financial privacy protection is a form of consumer protection. It's designed to protect consumer information held by financial institutions. This lesson discusses financial privacy protection and the Gramm-Leach-Bliley Act.
7. Unfair Competition: Methods, Elements & Laws
Unfair competition refers to several different types of intentional torts that cause economic injury to another person's business. These torts are various forms of deceptive business practices. This lesson explains unfair competition.
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Other chapters within the MTEL Business (19): Practice & Study Guide course
- MTEL Business: Management Basics
- MTEL Business: Management Theories
- MTEL Business: Planning Function of Management
- MTEL Business: Organizing Function of Management
- MTEL Business: Leading Function of Management
- MTEL Business: Leadership Theories
- MTEL Business: Controlling Function of Management
- MTEL Business: Motivation & Management
- MTEL Business: Managing Organizational Change
- MTEL Business: Operational Management
- MTEL Business: Overview of Human Resource Management
- MTEL Business: Job Analysis & Design
- MTEL Business: Hiring & Staffing
- MTEL Business: Employee Training & Assessment
- MTEL Business: Employee Compensation
- MTEL Business: Employment Law & Rights
- MTEL Business: Equal Employment Opportunity
- MTEL Business: Labor Relations
- MTEL Business: Business Communications
- MTEL Business: Overview of the American Legal System
- MTEL Business: Contract Law
- MTEL Business: Property Law
- MTEL Business: Agency Law
- MTEL Business: Creditors' Rights & Bankruptcy
- MTEL Business: Securities & Antitrust Law
- MTEL Business: Environmental Law
- MTEL Business: Business Law & Ethics
- MTEL Business: Overview of Accounting
- MTEL Business: Accounting Cycle
- MTEL Business: Financial Statements & Ratios
- MTEL Business: Managerial Accounting & Internal Controls
- MTEL Business: Basics of Business Math
- MTEL Business: Probability & Statistics
- MTEL Business: Depreciation
- MTEL Business: Interest & Purchases
- MTEL Business: Financial Analysis
- MTEL Business: Basic Concepts of Microeconomics
- MTEL Business: Supply & Demand in Microeconomics
- MTEL Business: Aggregate Supply & Demand in Macroeconomics
- MTEL Business: Economic Systems & Theories in Macroeconomics
- MTEL Business: Business Cycle, GDP & Growth in Macroeconomics
- MTEL Business: Unemployment & Inflation in Macroeconomics
- MTEL Business: Fiscal Policy & Monetary Policy in Macroeconomics
- MTEL Business: Trade & International Business in Macroeconomics
- MTEL Business: General Marketing Concepts
- MTEL Business: Consumer Behavior
- MTEL Business: Pricing in Marketing
- MTEL Business: Product Development, Market Research & Segmentation
- MTEL Business: Advertising, Promotion & PR
- MTEL Business: Marketing Channels & Distribution
- MTEL Business: Entrepreneurship
- MTEL Business: Information Technology
- MTEL Business: Career Development
- MTEL Business: Consumer Economics & Personal Finance
- MTEL Business Flashcards