Chapter 7 Vocab Flashcards
Consumerism
an economic theory that links prosperity to consumer demand for goods and services and that makes consumer behavior central to economic decision making
Bandwagon Effect
• Encourages you to buy a product or service because everyone else is.
Emotional appeal
• Uses strong emotional language that connects with your fears and desires.
Glittering generalities
• Relates the product or service to words or images that promise everything, but deliver little or nothing.
Plain folks appeal
• Relates a product or service to the experience of ordinary folks.
Testimonials
• Uses celebrities or experts to speak for a product.
Scientific appeal
• Uses statistics or scientific data to persuade consumers to buy a product or service.
Boycott
A decision by consumers to stop buying a product or service as a way to bring about change
Gross Domestic Product
The amount of wealth a country’s economy generates