7: Consumerism Flashcards
What is consumerism?
An economic theory that links prosperity to consumer demand for goods and services and makes consumer behaviour central to economic decision making.
How does consumerism influence economies?
It influences the economies of both Canada and the U.S. by reflecting common values that shape these economies.
What role does consumer behaviour play in economic decision making?
Consumer behaviour plays a key role in economic decision making in economies based on consumerism.
What factors might influence a consumer’s purchasing decision?
Factors include quality, price, origin of the product, and laws about health and safety.
What are the consequences of consumer choices?
They impact quality of life, citizenship, and identity of individuals and groups.
What does the chapter explore regarding consumer behaviour?
It explores factors that affect consumer behaviour and how these factors connect to economic systems in Canada and the U.S.
Fill in the blank: Consumer choices can create by-products such as _______.
wastes
What happens to a bottle after purchasing bottled water?
The bottle ends up in the recycling or the garbage.
What is the environmental impact of consumer behaviour?
Consumer behaviour can have significant impacts on the environment.
How does consumer behaviour connect to quality of life?
The impacts on the environment from consumer behaviour can affect quality of life.
True or False: Consumerism promotes the idea that buying more goods is better for the economy.
True
What are the focus questions discussed in the chapter?
- How does consumer behaviour affect quality of life for individuals and groups in Canada and the U.S.?
- What affects the impact of consumerism on the economies of Canada and the U.S.?
What was the purpose of the 2003 bumper sticker regarding Alberta beef?
To encourage Alberta consumers to support local beef producers by buying Alberta beef
This initiative was in response to the impact of ‘mad cow disease’ on international sales.
What challenge did Alberta beef producers face in 2003?
International sales were halted due to ‘mad cow disease’
This significantly affected the local beef economy.
How has consumer behavior affected the North American auto industry?
Consumers now keep cars longer and buy new cars less frequently
This shift is partly due to better-built, safer cars with longer warranties.
What impact does consumer pressure have on car manufacturers?
It drives improvements in car quality and safety
This has led to increased competition from foreign manufacturers.
What might consumers choose when buying a new car today?
Cars made in Asia or Europe
This reflects changing preferences and competition in the market.
What are some impacts of consumer behavior?
Impacts on producers, jobs, and the environment
These impacts can influence economic stability and sustainability.
How might marketing affect consumer behavior?
By influencing perceptions and purchasing decisions
Understanding marketing can help consumers make informed choices.
Why is it important to understand the role of marketing as a consumer?
It helps in making informed purchasing decisions
Knowledge of marketing strategies can lead to better consumer choices.
Fill in the blank: Consumer behavior has many impacts, including impacts on _______.
[producers, jobs, and the environment]
True or False: Consumers used to purchase new cars every five to six years.
False
Consumers traditionally purchased new cars every two to three years.
What factors can affect the behaviour of individual consumers?
Factors include jobs, environment, identity, and citizenship.
How do individual consumer choices impact society?
They affect jobs and the quality of the environment.