Right to Choose
you have the right to select from goods and services at competitive prices
Right to Be Informed
you are protected from false advertising and you have the right to ask for all the facts you need to make decisions
Right to Be Heard
you have the right to speak out when you are not satisfied. You have the right to help in making consumer laws.
Right to Redress
you have the right to have a problem corrected or solved if you have not been treated fairly
Right to Consumer Education
you have the right to learn the skills to make you a wise consumer
The value of personal items that one owns, including savings, investments, and property.
Buyer or users of goods and services for personal use.
suppliers of services amd makers of goods.
products for sale, mechandise.
activities or accomendations required by buyers.
the world of trade and business.
a time period in which business shifted from small scale cottage industrices to large scale factories using mass production.
a system of producing and distributing goods and services.
the pratice of allowing a capitalistic economy to function with minimum government regulation.
the quantity of goods or services that buyers will purchase at a given price.
a series of steps that will lead the decision maker to final chocie.
the things that an individual likes and or dislikes
the typical way a person or group of people lives.
the things a person feels are important or believes are right or wrong.
aims or purposes that a person intends to accomplish or achieve.
expensive items that show off a person's financial position.
a community or nation that has people of different ethnic, social, and religious groups.
techniques that are designed to control thoughts and actions by deceiving the audience or by distorting the truth.
an advertising presentation that is designed to look like an informative television program.
the cheating or tricking of consumers.
different choices for a selected decision.
items that will be used up or thrown away after use.
a written guarantee that is legally binding.
Suggested retail price
product price that re recommended by the manufacturer.
the unwritten warranty guarantee that a product can be used for its intended purpose and will give reasonable service.
Decision matrix -
a form used to evaluate and compare products.
non-profit organization that tests and rates product and is the publisher of Consumer Reports magazine.
let the buyer beware.
Consumer Action Panel
a group of persons not employed in a particular industry that is responsible for handling consumer complaints in that industry.
a written contract spelling out consumer rights.
Magnuson-Moss Warranty Act
federal law passed in 1975 requiring that warranties be written in ordinary language.
stamps of approval indicating that products have met certain established standards.
American Gas Association
private non-profit organization that sets standards for gas appliance governing use, durability and safety.
private non-profit that tests products for safety and then stamps them with their seal.
organized refusal to buy certain products as a means of sending a message to the producer.
Better Business Bureaus
organizations supported by local businesses for the purpose of assisting consumers with information and complaints.
The property of a good or a commodity whose individual units are capable of mutual substitution.
Easily transported object.
The degree to which an asset or security can be bought or sold in the market without affecting the asset's price.
Putting aside money for future expenditures.
Equal Credit Opportunity Act
ensures that all consumers are given an equal chance to obtain credit.
a commitment of money or capital with the intent of making a profit
A market in which there is only one seller for a product or service
a market structure in which only a few sellers offer similar or identical products
Consumer Price Index
Monthly statistics that measure the pace of inflation or deflation