Family Consumer Sciences Resource Management Praxi
Family Consumer Sciences Resource Management Praxi
Exam (elaborations)
Family Consumer Sciences Resource Management Praxis II (5122) Exam Questions & Answers(GRADED A+)
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Course
Family Consumer Sciences Resource Management Praxi
Institution
Family Consumer Sciences Resource Management Praxi
Truth in Lending Act - ANSWER any organization issuing credit to a consumer to disclose the full terms of the lending arrangement and all costs associated with entering into that arrangement.
Equal Credit Opportunity Act - ANSWER a federal act prohibiting any organization that issues credit to...
Family Consumer Sciences
Resource Management Praxis
II (5122) Exam Questions &
Answers(GRADED A+)
Truth in Lending Act - ANSWER any organization issuing credit to a consumer to disclose the full
terms of the lending arrangement and all costs associated with entering into that arrangement.
Equal Credit Opportunity Act - ANSWER a federal act prohibiting any organization that issues credit
to consumers from denying credit to a consumer on the basis of race, gender, age, marital status,
religion, national origin, or skin color.
Fair Housing Act - ANSWER a similar anti-discrimination act that prevents a seller or organization
offering financing for a home from denying to sell,rent, or finance a residence on the basis of race
color, gender, religion, family status, national origin, or handicap.
Fair Credit Reporting Act - ANSWER states that consumer reporting agencies collecting and
distributing information about consumers fro credit related purposes are required to follow certain
guidelines concerning how they maintain and distribute the information they collect.
Fair Debt Collection Practices Act - ANSWER requires third party debt collectors, businesses that
collect debts due to other individuals or businesses, to refrain from using abusive or deceptive
practices in collecting those debts.
Caveat emptor - ANSWER "literally means "let the buyer beware"
Time Management - ANSWER process of using skills, tools, principles, and practices together in
order to most efficiently use the time that an individual or group of individuals as available.
, Land resource - ANSWER uses as locations fro homes and businesses or as sites for other natural
resources located on piece of land, such as oil, minerals, soil that can be considered.
labor resource - ANSWER marketers who determine the best way to sell a product, salespeople who
sell the product to the consumer, factory workers who assemble that product,and anyone else who
aids in achieving the end goal of those dealing with the product
Capital - ANSWER refers specifically to money, but capital goods include the machinery that turns
raw goods into a finished product in a factory
Information resources - ANSWER books or online sites that can be used to learn how to construct a
better product or how to better manage a particular organization.
non financial resource - ANSWER not cash or cannot be sold outright and turned into cash, Exampe,
family that may not want to sell its house can rent out a room to make additional money, mending
everyone's clothing, making a repairs to the family home before paying anyone else for labor.
Identifying and defining the goals and values - ANSWER before making a decision
three basic rights - ANSWER right to safety, the right to be informed, and the right to be treated
fairly
State and federal laws - ANSWER are designed to hold businesses accountable for the manner in
which they conduct business. examples, may include protection against products that are dangerous,
protection against certain types of discrimination with in the marketplace,hidden cost associated
with a transaction.
First step Decision process - ANSWER recognizing that he or she has a need or a want that to fulfill
Second step Decision process - ANSWER gather information about products or services that will
fulfill that need or want by searching online, examining magazines, talking to people
Third Step Decision process - ANSWER Evaluate the various product or service choices available in
order to determine which option will best fulfill that need or want
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