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Definition
| Someone who uses or purchases goods and services |
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When you pay someone to do something for you.
Ex: Getting a hair cut |
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| A decision that you make with little or no thought. |
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| A non-bais resource that has no ads in it. They purchase products and then test them. |
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| Bait and Switch Advertising |
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| A misleading form of advertising where you are lured in by a promise of a low price and then they switch them to a more expensive one. |
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Conspicuous Consumption
(AKA Keeping up twith the Jones) |
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Definition
| When you buy something to keep up with someone else or because every one has it. |
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Law of Supply and Demand
When the the demand for a product is high and the the supply is limited. What is going to happen to the price? |
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Definition
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Law of Supply and Demand
When the the demand for a product is low and the the supply is O.K. or high. What is going to happen to the price? |
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Definition
1. Think about it.
2. Do your H.W. or research.
3. Bring a friend except when food shopping.
4. Leave you money at home. |
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| Never go food shopping... |
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Definition
| With someone else or when you are hungry. |
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| The color green on packages means... |
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Definition
| It is is health or eco. friendly. |
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| setting a product apart from its competitors. |
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| Selling a product in a new way or to a new group of consumers. |
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| You have the right to learn about your consumer rights and responsibilities. This Consumer Right is |
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Definition
| The Right to Consumer Education. |
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| Products must be well designed and if used properly should not cause injury or harm. This Consumer Right is... |
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Definition
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| Products must be well designed and if used properly should not cause injury or harm. This Consumer Right is... |
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| Labels give you information about a product. Laws protect you from false or misleading advertising. This right is... |
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Definition
| The Right to information. |
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| Consumers have the right to pick from a variety of products and where you purchase them. You have this right.... |
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| You have the right to speak out if you are not satisfied with a product or a service was not performed correctly. This right is..... |
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| This is the newest consumer law. It is usually addressed at the state level. It is not clearly defined. This right is.... |
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| This allows you to compare different brands or sizes of packages to see what is the "Best Deal". |
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Definition
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Term
| To compute the unit price you... |
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Definition
Divide the price you paid by the amount in the package.
You can also use a ratio chart.... |
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Definition
| Usually more expensive because of advertising and more colorful/expensive packaging. |
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| This is only sold at one store. It is less expensive because packaging is cheaper/less colorful and they usually do no advertise. |
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| Generic/no Name/Lesser Name Brand |
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Definition
| These are usually less expensive due to less colorful/expensive packaging. They are sold at limited stores and are not available for all products. They usually do not advertise. |
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Term
| The "Food Label" is based on a _________ calorie a day diet. |
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Definition
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| To be considered low on the food label it must be this percent or lower. |
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| To be considered high on the food label it must be this percent or above. |
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| Where the food was produced must now be on products like produce(Ex: Fruits and Veggies). This is the country of |
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| The goal of a company is to... |
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Definition
| Sell a product or to make $$$$ |
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| A name, sign, symbol, or slogan. |
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Definition
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| Advertising, packaging, pricing, and places. |
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Definition
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| Name, Logo, visual representation, and messaging. (What ever makes it identifiable) |
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| People/celebrates, characters and animals used in advertising. |
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| When you always buy a specific brand. |
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| Proof of where you made a purchase, when you made it, and how much you paid. |
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| A guarantee that a product will work as is should for a certain length of time. |
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| Comparing prices of products and the services. This may involve going to store, businesses and/or web sites. |
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