This is the money that comes off of the top of your income and is sent to the government to fund various programs and run the government.
What are taxes?
100
This is the first decision that each and every consumer must make.
What is whether or not to buy a good or service?
100
The most efficient way for consumers to gain information about products, services, or businesses.
What is the Internet?
100
This term describes the practice of companies paying to have their product show up in movies and television, or having celebrities wear them in public.
What is product placement?
100
The basic problem of economics.
What is scarcity?
200
Any person or group that buys or uses goods and services
What is a consumer?
200
Once you have decided to make a purchase, these two scarce resources are involved.
What are money and time?
200
This group's mission is to provide consumers with unbiased information about the quality of various goods and services.
What is Consumer Reports?
200
When a consumer gets information about the types and prices of products available from different stores before making their final purchase.
What is comparison shopping?
200
Sacrificing one good or service to purchase or produce another
What is a trade-off?
300
The money a person has left after all taxes have been paid.
What is disposable income?
300
If someone buys a faulty product, or has a dispute with a business, this is who is responsibilie to initiate the dispute process.
Who is the consumer?
300
Nike, Pepsi, BMW are all examples of this, providing a word, picture or logo on a product, distinguishing itself from other similar products.
What is a brand name?
300
An advertisement that tries to convince a consumer that their product is superior to others.
What is competitive advertising?
300
The value of the next best alternative given up for the alternative that was chosen.
What is an Opportunity Cost?
400
Money left over after all taxes and necessities have been paid
What is discretionary income?
400
The movement to educate buyers about the purchases they make.
What is consumerism?
400
This general name for a product name can save consumers big bucks with some smart shopping.
What is a generic brand?
400
Advertising that helps consumers by providing them with useful information about a product.
What is informative advertising?
400
This agency provides consumers information and helps them settle disagreements between buyers and sellers.
What is the Better Business Bureau?
500
Of all consumer spending, approximately 34% goes towards this.
What is housing and household operations?
500
This term describes the choosing of an alternative that has the greatest perceived value from among comparable-quality products.
What is rational choice?
500
This is known as a promise made by a manufacturer or a seller to repair or replace a product within a certain time period if it is found to be faulty.
What is a warranty?
500
This illegal practice attempts to bring in consumers with a low-priced product, before then trying to sell them a higher-priced product.
What is bait and switch?
500
One of the four consumer protections outlined by President Kennedy in 1962
What is the right to safety, OR the right to be informed, OR the right to choose, OR the right to be heard.