Consumerism Basics
An economic theory that links prosperity to consumer demand for goods and services.
What is consumerism?
This appeal uses endorsements from celebrities or satisfied customers.
What are testimonials?
This factor relates to how personal beliefs and values affect purchasing decisions.
What is identity?
This indicator measures the average income per person in a country.
What is GDP per capita?
The right to be protected against the marketing of goods that are hazardous to health or life.
What is the right to safety?
The formal term for money spent by individuals on goods and services.
What is consumer spending?
An advertising strategy that evokes strong emotions to persuade consumers.
What is emotional appeal?
Concerns about this factor can lead consumers to choose products that are safe and non-hazardous.
What is health and safety?
A sustained increase in the general price level of goods and services in an economy
What is inflation?
The responsibility to use products as they were intended and follow safety instructions.
What is the responsibility to use products safely?
The total value of all goods and services produced within a country in a year.
What is Gross Domestic Product (GDP)?
This technique uses vague, sweeping statements that sound good but provide little information.
What are glittering generalities?
The availability of employment opportunities can influence this aspect of consumer behavior.
What are jobs?
The percentage of the labor force that is unemployed and actively seeking employment.
What is the unemployment rate?
The right to be informed about a product's quality, quantity, potency, purity, standard, and price.
What is the right to be informed?
The practice of refusing to purchase goods or services from a company to protest its policies.
What is a boycott?
An approach that suggests a product is practical and of good value for ordinary people.
What is the plain folks appeal?
Environmental considerations can lead consumers to prefer eco-friendly products.
What is the environment?
This term refers to the total amount of goods and services that consumers are willing and able to purchase at a given price level.
What is aggregate demand?
The responsibility to seek information and use it to make informed choices.
What is the responsibility to be an informed consumer?
The effect that encourages individuals to make purchases because others are doing so.
What is the bandwagon effect?
This method uses scientific data or technical jargon to promote a product.
What is scientific appeal?
This factor involves strategies used to promote and sell products to consumers.
What is marketing?
The total market value of all final goods and services produced within a country in a specific period.
What is Gross Domestic Product (GDP)?
The right to choose from a variety of products and services at competitive prices.
What is the right to choose?