Values
Beliefs that are important to you in your work.
What are work values?
An advertisement explaining the technical aspects of a product.
What is informative advertising?
Money or other benefits that a consumer receives as fair compensation.
What is the Right to Redress?
Mrs. Cartwright's knowledge of Consumer Education, worksheets, and Power Point presentations are her _____________.
What are resources?
- lifepan goal
- opportunity cost
- short-term goal
What is lifespan goal?
The principles that are most important to you in life.
What are life values?
An advertisement that shows a beautiful woman or handsome man using a hair product and suggesting that you will be more happier, appealing, and successful.
What is persuasive advertising?
To live and work in an environment that doesn't damage one's health.
What is the Right to a Healthy Environment?
Every country must deal with the situation in which consumers' wants are greater than the resources available to satisfy those wants. This situation is known as ___________.
What is scarcity?
A purchase made on a whim, without using a decision making process.
What is impulse purchase?
Principles that are important to you because of your ethnic heritage or religion.
What are cultural values?
Comparing Starbucks and Dunkin Donuts
What is comparative advertising?
Products must not endanger consumers' lives or health.
What is Right to Safety?
U.S. businesses and consumers are able to make most economic decisions within limits set by the government shows that this country is a ________.
- command economy
- market economy
- mixed economy
What is a mixed economy?
You bought a 70 inch TV on your credit card. Your mom is furious that you purchased the TV. The next day, you call the seller to cancel the contract. You called sooner than later because you know you have three days to cancel.
What is cooling-off period?
Principles that are important to you because of the community in which you live.
What are social values?
Jingles and slogan are used in these types of advertising so you can remember the product.
What is Brand Advertising?
Consumer should have a variety of goods and services from which to choose.
What is the Right to Choose?
Price at which the quantity supplied EQUALS the quantity demanded of that product.
What is equilibrium price?
In solving a problem you have with a product that you have purchases, you should start with the _______.
Who is the seller?
Principles that are important to you because of how and where people live.
What are demographic values?
Goal is to convince the consumer that its product is the best choice. Advertisement does not tell the whole story.
What is Defensive Advertising?
Businesses must provide accurate information in advertising, labeling, and sales practices.
What is the Right to Be Informed?
The relationship between price and quantity demanded.
What is as price rises, demand decreases?
Purchasing items with a plan in mind and amount set. You plan specific steps to gather information about the clothing you want and need. This buying process is...
- impulse buying
- rational buying
What is rational buying?