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Consumerism
Consumerism
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Consumer Education Unit 1
Flashcards
22 cards
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Questions
22
Answers
1
Consumers contributing to the making of laws is:
the right to service
the right to be informed
the right to choose
the right to be heard
2
How much of a good/service consumers are willing and able to buy is called:
want
supply
equilibrium
demand
3
What is the wise use of limited resources?
stability
efficiency
growth
security
4
What happens to price if the supply of a product goes down?
it goes down
it goes up
it goes sideways
nothing happens
5
Customs & culture control economic decision making in a/an
command economy
mixed economy
traditional econonomy
market economy
6
The consumer right to access a variety of goods and many price points is:
the right to be heard
the right to redress
the right to choose
the right to safety
7
How is profit calculated?
sales - earnings
earnings - sales
cost of production - sales
sales - cost of production
8
How much of a good/service a business is willing and able to provide is called:
equillibrium
want
demand
supply
9
A measure of the efficiency with which goods and services can be produced is called:
economics
demand
productivity
supply
10
Which is NOT an economic role that people have in our economy?
tax payer
worker
shopper
consumer
11
What is an economic goal that treats all citizens fairly called?
efficiency
stability
justice
security
12
The government makes all economic decisions in a/an
mixed economy
market economy
traditional economy
command economy
13
This right protects consumers from dishonest advertising, labeling, or sales practices:
the right to service
the right to be informed
the right to redress
the right to choose
14
This right protects against products and services that are dangerous:
the right to safety
the right to be informed
the right to redress
the right to choose
15
What powers do consumers have?
determine where to advertise
determine the target market
inform where services will be provided
determine how to advertise
16
Where supply = demand is called:
intersection
equillibrium
lowest point
midpoint
17
A combination of two systems determines economic decisions in a/an
traditional economy
market economy
command economy
mixed economy
18
What is an increase in the amount of goods and services over time?
effeciency
stability
security
growth
19
What is the steady level of economic well-being called?
stability
security
efficiency
justice
20
Individuals who are in it for the $ make economic decisions in a/an
traditional economy
command economy
market economy
mixed economy
21
If a consumer is looking to solve a problem with a product they are seeking:
release
redress
review
replacement
22
The way a society uses resources to satisfy wants and needs is called:
consumerism
effeciency
mixed economy
economic system