Chp 3 Economics
A company that engages in false advertising can be instigated by the
Federal Trade Commission
Which of the following conclusions can you draw from the chart?
Canadians spend the most on personal income taxes
Regulates the labelling of drugs products
FDA
A company that engages in false advertising may investigated by the
Federal trade commission
A promise to repair or replace a faulty product within certain time is
a warranty
This advertisement is intended to appeal to consumers sense of
adventure
Which of the following expenses would be included in the highest consumer-spending category?
apartment rent
deceptive adverting practice that attracts consumers
bait and switch
word,picture, or logo on a product that helps consumer distinguish it from similar products
brand name
getting information about the product
comparison shopping
Advertising that tries to convince customers that one product is better than another is an example of
competitive
advertising that attempts to persuade consumers that a product is different from and superior to any other
competitive advertising
person or group that buys or uses goods and services
consumer
movement to educate buyers about the purchases they make and to demand better and safer products from manufacturers
consumerism
Bait and Switch is an example of
deceptive advertising
The money people lave left over after they have paid their taxes is called
disposable income
What aspect of this product does the advertisement emphasize most?
ease of use
acting in accordance with convictions about right and wrong
ethical behavior
General name for a product rather than a specific brand name given by the manufacturer
generic brand
Generic products are those that
have no brand name at all
Every purchase decision involves the use of two scarce resources
income and time
advertising that gives information about the product
informative advertising
All of the following are consumer rights except the
right to receive a warranty
Which of the following is NOT a consumer right?
the right to repair
Some consumers prefer generic products over brand-name products because
they are less expensive
Every purchase decision involves the use of two scarce resources___ and ___.
time and money
A written statement that a manufacturer or seller with repair or replace a defective item is known as a
warranty
promise made by manufacturer
warranty