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[Show more]economics correct answer: the study or science of production, distribution and consumption; the study of how society manages its scarce resources 
 
scarcity correct answer: means that society has limited resources and therefore cannot produce all the goods and services people wish to have; implie...
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Add to carteconomics correct answer: the study or science of production, distribution and consumption; the study of how society manages its scarce resources 
 
scarcity correct answer: means that society has limited resources and therefore cannot produce all the goods and services people wish to have; implie...
Factors that Influence Consumers correct answer: Economics 
History 
Consumer Culture 
Individual Traits 
Physciological Needs 
Desire for Technology 
Political Area, gov't standards, etc. 
 
Consumption Process correct answer: Awareness 
Thinking 
Planning 
Implementing 
Evaluating 
 
Awareness ...
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Add to cartFactors that Influence Consumers correct answer: Economics 
History 
Consumer Culture 
Individual Traits 
Physciological Needs 
Desire for Technology 
Political Area, gov't standards, etc. 
 
Consumption Process correct answer: Awareness 
Thinking 
Planning 
Implementing 
Evaluating 
 
Awareness ...
Economics correct answer: - the study or science of production, distribution, and consumption 
-the study of how society manages its scarce resources 
 
Society and Scarce Resources correct answer: -The management of society's resources if important because resources are scarce 
-Scarcity implie...
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Add to cartEconomics correct answer: - the study or science of production, distribution, and consumption 
-the study of how society manages its scarce resources 
 
Society and Scarce Resources correct answer: -The management of society's resources if important because resources are scarce 
-Scarcity implie...
**What are the factors that influence consumers?** correct answer: 1. Economics 
2. History 
3. Consumer culture 
4. Individual traits; example : age 
5. Physiological needs 
6. Desire for technology 
7. Political area; example : gov'nt standards 
 
(EHC, I, PDP) 
 
The Business Cycle correct ans...
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Add to cart**What are the factors that influence consumers?** correct answer: 1. Economics 
2. History 
3. Consumer culture 
4. Individual traits; example : age 
5. Physiological needs 
6. Desire for technology 
7. Political area; example : gov'nt standards 
 
(EHC, I, PDP) 
 
The Business Cycle correct ans...
economics correct answer: the study or science of production, distribution, and consumption; how society manages its scarce resources 
 
scarcity correct answer: society has limited resources and therefore cannot produce all the goods and services people wish to have 
 
consumer economics correct ...
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Add to carteconomics correct answer: the study or science of production, distribution, and consumption; how society manages its scarce resources 
 
scarcity correct answer: society has limited resources and therefore cannot produce all the goods and services people wish to have 
 
consumer economics correct ...
Consumer Economics correct answer: The study of how people deal with scarcity, fulfill needs, and select among alternative goods. 
 
Scarcity implies ________ which implies __________ to the consumer correct answer: choice, cost 
 
Why do we study consumer economics? correct answer: 1. To apply c...
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Add to cartConsumer Economics correct answer: The study of how people deal with scarcity, fulfill needs, and select among alternative goods. 
 
Scarcity implies ________ which implies __________ to the consumer correct answer: choice, cost 
 
Why do we study consumer economics? correct answer: 1. To apply c...
benefits of information search correct answer: lower tag price and consumer cost, satisfaction from shopping, knowing what is available 
 
costs of information search correct answer: time, transportation, obtaining information, emotional 
 
When should you search for more information? correct answ...
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Add to cartbenefits of information search correct answer: lower tag price and consumer cost, satisfaction from shopping, knowing what is available 
 
costs of information search correct answer: time, transportation, obtaining information, emotional 
 
When should you search for more information? correct answ...
economics (defined by goldsmith) correct answer: the study or science of production, distribution, and consumption 
 
economics (defined by miller) correct answer: the study of how society manages its scarce resources 
 
scarcity correct answer: means that society has limited resource therefore c...
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Add to carteconomics (defined by goldsmith) correct answer: the study or science of production, distribution, and consumption 
 
economics (defined by miller) correct answer: the study of how society manages its scarce resources 
 
scarcity correct answer: means that society has limited resource therefore c...
free market economy correct answer: "an economic system in which individuals, rather than government, make the majority of decisions regarding economic activities and transactions" 
 
Market Failure correct answer: is a scenario postulated by some economists in which markets do not efficiently o...
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Add to cartfree market economy correct answer: "an economic system in which individuals, rather than government, make the majority of decisions regarding economic activities and transactions" 
 
Market Failure correct answer: is a scenario postulated by some economists in which markets do not efficiently o...
Ch 1 Consumers in a changing world 
 
Economics correct answer: - the study or science of production, distribution, and consumption 
-the study of how society manages its scarce resources 
 
Goldsmith's definition of economics correct answer: Economics is the study or science of production, dis...
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Add to cartCh 1 Consumers in a changing world 
 
Economics correct answer: - the study or science of production, distribution, and consumption 
-the study of how society manages its scarce resources 
 
Goldsmith's definition of economics correct answer: Economics is the study or science of production, dis...
pre purchase correct answer: step in consumer buying process 
-consumer tries to determine how much pleasure/pain will be derived from a product or service; sometimes we pay for things that give us pain (tattoos) 
-Assessing need vs. want: decide what's needed and available 
-results when situati...
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Add to cartpre purchase correct answer: step in consumer buying process 
-consumer tries to determine how much pleasure/pain will be derived from a product or service; sometimes we pay for things that give us pain (tattoos) 
-Assessing need vs. want: decide what's needed and available 
-results when situati...
Prepurchasing correct answer: what consumers are thinking about and how they are behaving that lead up to an actual purchase 
 
Prepurchasing involves what steps correct answer: 1) Assessing needs 
2) Searching for Information 
3) Evaluating alternatives 
4) Selecting product or service 
 
Prep...
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Add to cartPrepurchasing correct answer: what consumers are thinking about and how they are behaving that lead up to an actual purchase 
 
Prepurchasing involves what steps correct answer: 1) Assessing needs 
2) Searching for Information 
3) Evaluating alternatives 
4) Selecting product or service 
 
Prep...
body mass index (BMI): correct answer: a measure of an adults weight interrelation to his or her height, specifically the adult's weight in kg divided by the square of his or her height in meters 
 
obesity correct answer: body mass index (BMI) of 30 or higher. 
 
annual obesity related medical c...
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Add to cartbody mass index (BMI): correct answer: a measure of an adults weight interrelation to his or her height, specifically the adult's weight in kg divided by the square of his or her height in meters 
 
obesity correct answer: body mass index (BMI) of 30 or higher. 
 
annual obesity related medical c...
Body Mass Index (BMI) correct answer: a measure of an adults weight interrelation to his or her height, specifically the adult's weight in kg divided by the square of his or her height in meters 
 
BMI of Obesity correct answer: BMI of 30 or higher 
 
Overall, on average, people who are obese spe...
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Add to cartBody Mass Index (BMI) correct answer: a measure of an adults weight interrelation to his or her height, specifically the adult's weight in kg divided by the square of his or her height in meters 
 
BMI of Obesity correct answer: BMI of 30 or higher 
 
Overall, on average, people who are obese spe...
Assets (own) - Liabilities (owe) = Net Worth correct answer: Net worth 
 
Reasons to develop a __________: 
- Achieve your financial goals 
- Achieve financial independence 
- Invest intelligently 
- Minimize your payments to Uncle Sam 
- Cover your assets correct answer: Personal finance plan...
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Add to cartAssets (own) - Liabilities (owe) = Net Worth correct answer: Net worth 
 
Reasons to develop a __________: 
- Achieve your financial goals 
- Achieve financial independence 
- Invest intelligently 
- Minimize your payments to Uncle Sam 
- Cover your assets correct answer: Personal finance plan...
What are the two largest expenditures for most consumers? correct answer: Housing and transportation 
 
What is the national homeownership rate? correct answer: 64.4% 
 
What does the Discrimination Fair Housing act prohibit discrimination on the basis of? correct answer: race or color, religion,...
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Add to cartWhat are the two largest expenditures for most consumers? correct answer: Housing and transportation 
 
What is the national homeownership rate? correct answer: 64.4% 
 
What does the Discrimination Fair Housing act prohibit discrimination on the basis of? correct answer: race or color, religion,...
Right to redress correct answer: The right to *seek and obtain* satisfaction for damages incurred through the use of a product or service. 
 
Send copes of your complaint letter to ________ ________ if appropriate. correct answer: 3rd party 
 
The goal is _______ or to make pleasant again. correct...
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Add to cartRight to redress correct answer: The right to *seek and obtain* satisfaction for damages incurred through the use of a product or service. 
 
Send copes of your complaint letter to ________ ________ if appropriate. correct answer: 3rd party 
 
The goal is _______ or to make pleasant again. correct...
CHAPTER 1 
Economics correct answer: -the study or science of production, distribution and consumption. (Goldsmith) 
-the study of how society manages its scares resources (Miller) 
 
Utility correct answer: Satisfaction, or well-being 
 
Adam Smith correct answer: -Father of Modern Economics. 
-...
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Add to cartCHAPTER 1 
Economics correct answer: -the study or science of production, distribution and consumption. (Goldsmith) 
-the study of how society manages its scares resources (Miller) 
 
Utility correct answer: Satisfaction, or well-being 
 
Adam Smith correct answer: -Father of Modern Economics. 
-...
Economy correct answer: comes from greek word "one who manages a household" 
 
Buying goods and services is an act of trust? correct answer: True 
 
Economists usually agree... correct answer: that consumers are rational and are acquisitive (strong desire for things) 
 
When consumers make choi...
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Add to cartEconomy correct answer: comes from greek word "one who manages a household" 
 
Buying goods and services is an act of trust? correct answer: True 
 
Economists usually agree... correct answer: that consumers are rational and are acquisitive (strong desire for things) 
 
When consumers make choi...
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