Question

Warranties provide repair and/or maintenance for a specific time for a car, home, or major appliance and are included in the price of the product (usually provided by the manufacturer). What is the purpose of this warranty?

A) To protect the consumer against defects
B) To extend the lifespan of the product
C) To increase the product's market value
D) To reduce manufacturing costs

Answer 1

The purpose of a warranty is to protect the consumer against defects, providing a guarantee to fix or replace the product within a certain time frame at no additional cost. Service contracts may also be offered for an extra charge, extending this protection period.

Step-by-step explanation:

The purpose of a warranty is primarily A) To protect the consumer against defects. When a manufacturer or seller offers a warranty, they are making a promise to repair or replace the product if any defects arise within a specified time frame. This can include large purchases such as cars, appliances, and even houses.

Warranties are often included in the price and give consumers peace of mind, ensuring that they are protected without additional costs should an issue occur. Additionally, sellers might offer service contracts, which are similar to warranties but usually come at an extra cost.

In these contracts, the seller agrees to fix any issues that might arise for a set period, providing extended protection beyond the basic warranty. However, these are optional and separate from the warranty included in the product's price.