Comsumption
Income
Buying Principles
Consumerism
Your role
100
What are the characeristics of a consumer
Someone that buys or uses goods and services
100
What is Consumer
Any person or group that buys or uses goods and services to satisfy personal needs and wants
100
What is Bait and switch
Deceptive advertising practice that attracts consumers with a low-priced product, then tries to sell them a higher-priced product
100
What is Consumerism
The ability to obtain from manufacturers adequate payment for damages caused by their goods
100
What is Competitive advertising
advertising that attempts to persuade consumers that a product is different from and superior to any other
200
What are the two types of income
Disposable income and Discretionary income
200
What is Disposable income
Income remaining for a person to spend after all taxes have been paid
200
What is Comparison shopping
Getting information on the types and prices of products available from different stores and companies
200
What is Ethical behavior
Private consumer group that helps settle disagreements between buyers and sellers
200
What is A promise to repair or replace a faulty product within a certain time
A warrinty
300
What factors help determine a persons potential earning power
Education experience and health
300
What is Rational choice
Choosing the alternative that has the greatest value among comparable quality products
300
What is Brand name
Word, picture, or logo on a product that helps consumers distinguish it from similar products
300
What is being protected against goods that are dangerous to life or health is a consumer's
Right to safety
300
What options do consumers have to help protect themselves
right to complain
400
What are three decisions consumers have to make
housing, food, and transportation
400
All the steps in consumer decision making involve
Oppurtunity cost
400
Comparison Shopping
A wise consumer makes a decision based on
400
What is the job of the better business bureau
consumers info on a product
400
Pointing our that a cashier failed to charge you for an item is and example of
Ethical behavior
500
What scarce resources are involved in making a purchase
Income vs Time
500
Money that is spent on luxury items or entertainment
Disposable incom
500
A wise consumer makes a decision based on
Comparison shopping
500
What is the first step in solving a consumer problem
Report the problem
500
What is the first step in solving a consumer problem
Report the problem
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