Who is a Consumer?
Define a consumer.
What is a person or business that buys goods and services?
Define a good.
What is a tangible item purchased for use or consumption?
What is supply?
What is the quantity of goods or services available in the market?
Name one technological device consumers use to make purchases.
What is a smartphone?
What are consumer rights?
What is protections that ensure fair treatment in the marketplace?
What is the difference between an individual consumer and an organizational consumer?
What is an individual buys for personal use, while organizations buy for business or production?
Define a service.
What is an action or work performed for a consumer?
What is demand?
What is consumer willingness and ability to buy a product?
How do online marketplaces help consumers?
What is by providing access to a variety of goods and services remotely?)
Name two basic consumer rights.
hat is the right to safety and the right to accurate information?
Give an example of a consumer making an economic decision.
What is choosing between two competing products based on price or quality?
Give one example of a good and one of a service.
What is a phone (good) and car repair (service)?
What happens to price when supply is low but demand is high?
What is prices increase?
Explain one way social media influences consumer choices.
hat is targeted advertising encourages purchasing decisions?
What is false advertising?
What is misleading consumers about a product or service?
Explain how consumers influence the market
What is by creating demand for certain goods or services?
What is a public service, and how does it differ from a private service?
What is a service provided by the government (public) versus a service offered by a business (private)?
Give an example of seasonal demand affecting supply.
What is high demand for swimsuits in summer leads to increased production?
What is secure transactions, fraud alerts, and easy tracking of expenses?
How can consumers protect themselves when making purchases?
What is researching products, checking reviews, and reading policies?
Name two factors that affect consumer purchasing behavior.
What is income level and personal preference?
Explain how some businesses offer both goods and services.
What is a restaurant selling meals (goods) and catering (service)?
Explain how technological advancements affect supply and demand.
What is online shopping increases demand while automation increases supply?
What is e-commerce, and how has it changed consumer behavior?
What is buying goods and services online, making shopping more accessible?
Give an example of how consumer rights can be violated.
What is selling defective products without a refund policy?