Consumerism And Marketing Final Flashcards
What is GDP?
It is the amount of money per capita, or per person all of the wealth of the country divided by the population is the GDP. ( gross domestic product)
What is the role of the consumer in market and mixed economies?
To create demand and to consume resources.
What is prosperity?
It is an economic state of growth with rising profits and an increase in job opportunities:)
What is Consumerism?
And economic theory that links prosperity to consumer demand for goods and services, and that makes consumer behavior central to economic decision-making
What are the indicators of quality of life?
Government Democratic rights and participation Health Education Environment Social conditions and social programs Community involvement and connectedness personal well-being Economy and employment Government Safety
What is the global economy?
The increasing economic interdependence of national economics around the world
What is planned obsolescence
I technique used by producers to deliberately set the length of time that their products will be useful
What is perceived obsolescence
A technique used by producers to make it seem as though their products are obsolete(done with, garbage) when in reality they are not. They are just no longer in style.
What is materials economy
The movement from extraction to production to distribution to consumption to disposal of goods.
What is closed loop production?
A sustainable system in which a product was created using renewable energy, with no polluted output and no waste. The materials used in production or recycled and reused rows and disposed. Not used very much because of the high cost.
What is outsourcing
When producers use overseas labor in the form of sweatshops to increase profits
What is a strike
A stoppage of work by employees of the company, strikes pressure employers to respond to issues that concern their employees
What is boycotting
A decision made by consumers to stop buying a product or service as a way to bring about change.
What is marketing?
It is the processed to determine what products or services may be of interest to consumers how to sell the products and how to get the consumers to keep the products.
Example, the idea of an advertisement.
What is advertising
Advertising is a form of communication used to persuade an audience to take some action toward the products and services of a specific company.
example, putting an advertisement on television.