Chapter 5
Identity Theft
the act of fraudulently gaining and using the personal information of someone else, usually for financial gain
Card Fraud
the financial opportunity that is lost when you choose to do something else with your money
Opportunity Cost
the financial opportunity that is lost when you choose to do something else with your money
Consumerism
the theory that spending money and consuming goods is good for the economy
Extended Warranty
extra coverage for the repair or replacement of items purchased
Buyer's Remorse
a feeling of guilt, regret, or unease after making a purchase
Manufacturer's Warranty
a promise from the manufacturer that a product will be replaced or repaired if it's faulty
Impulse Buying
buying anything without planning to do so in advance
Prefrontal Cortex
the part of your brain that controls memory, impulses, and thoughts
Amygdala
the part of your brain that helps regulate your stress responses
Marketing
the process of communicating the value of a product or service to customers
Brand Recognition
the public's ability to recall and recognize a brand by its logo, jingle, packaging, or name
Retail Therapy
the shopping people do to lift their mood when they're discontent
Contentment
the state of being satisfied with who you are and what you have in life