Price Tag Act

Question 1

Any device, written, printed, a fixed or attached to a consumer product or displayed in a consumer repair or service establishment for the purpose of indicating the retail price per unit or service

Answer 1

price tag

Question 2

The business of selling consumer products directly to consumers

Answer 2

retail sale

Question 3

Goods, services and credits, that’s or obligations which are primarily for personal, family, household or agricultural purposes

Answer 3

consumer products and services

Question 4

True or false. Consumer products can be sold at a price lower than the price is stated in the price tag

Answer 4

true. Consumer products shall not be sold at a price higher than that stated therein

Question 5

In the case of ________ sold, displayed or offered for sale to the public, the same shall be tagged or labeled indicating their on the price and the corresponding official name of the ________

Answer 5

lumber; wood

Question 6

True or false. In the case of consumer services, price list may also be used in lieu of price tags which shall be posted or placed in conspicuous places in the stablish meant

Answer 6

true

Question 7

True or false. All products sold in the philippines shall bear price tags and or or price list in pesos except when a law or regulation allows consumer products to be sold in foreign currency as in the case of duty free shops

Answer 7

true

Question 8

True or false. The price of vatable products can be excluded from the price tag

service charge should be included in the price tag

Answer 8

false; false

Question 9

True or false. Price tag indicating a separate cash price tag and regular price on each product or service is not allowed

Answer 9

true

Question 10

The consumer may file a petition or letter complaint to the ___________________ to conduct an investigation for violations of the price tag law upon finding a violation this department may commence formal administrative action against any person who appears responsible therefore

Answer 10

dti

Question 11

Administrative penalties imposed even if not prayed for in the complaint (CDRCA)

Answer 11

cease and desist order

discontinuance

restitution or rescission without damages

condonation and seizure of the product found to be hazardous

administrative fine

Question 12

The imposition of administrative fines in such amount as deemed reasonable by the secretary, which shall in no case be less than _______ nor more than __________ depending on the gravity of the offense, and an additional fine of not more than ________ for each day of continuing violation

Answer 12

500; 300,000; 1,000

Question 13

Any person who violates the provisions of this act for the first time shall be subject to a fine of not less than _______ but not more than ________ and/or by imprisonment of not less than ______ but not more than ___________

Answer 13

200; 5,000; 1 month; 6 months

Question 14

True or false. A first conviction shall carry with it a penalty of revocation of business permit and license

Answer 14

False; second