Consumerism And Marketing Final

Question 0

What is GDP?

Answer 0

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)

Question 1

What is the role of the consumer in market and mixed economies?

Answer 1

To create demand and to consume resources.

Question 2

What is prosperity?

Answer 2

It is an economic state of growth with rising profits and an increase in job opportunities:)

Question 3

What is Consumerism?

Answer 3

And economic theory that links prosperity to consumer demand for goods and services, and that makes consumer behavior central to economic decision-making

Question 4

What are the indicators of quality of life?

Answer 4

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

Question 5

What is the global economy?

Answer 5

The increasing economic interdependence of national economics around the world

Question 6

What is planned obsolescence

Answer 6

I technique used by producers to deliberately set the length of time that their products will be useful

Question 7

What is perceived obsolescence

Answer 7

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.

Question 8

What is materials economy

Answer 8

The movement from extraction to production to distribution to consumption to disposal of goods.

Question 9

What is closed loop production?

Answer 9

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.

Question 10

What is outsourcing

Answer 10

When producers use overseas labor in the form of sweatshops to increase profits

Question 11

What is a strike

Answer 11

A stoppage of work by employees of the company, strikes pressure employers to respond to issues that concern their employees

Question 12

What is boycotting

Answer 12

A decision made by consumers to stop buying a product or service as a way to bring about change.

Question 13

What is marketing?

Answer 13

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.

Question 14

What is advertising

Answer 14

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.

Question 15

Name Six ways we see advertisements daily

Answer 15

Newspapers 
product placement
Bus stop
Clothing
Washrooms
Internet

Question 16

What are created wants?

Answer 16

Once which are created by advertisements

Question 17

What are the six main advertising techniques used by producers

Answer 17

Bandwagon affect-
glittering generalities-
testimonials-
emotional appeal-
plain folks appeal-
scientific appeal-

Question 18

How do unions affect the quality of life for workers and producers?

Answer 18

Workers: increased power benefits and quality-of-life, revive higher pay and keep their rights

Producers: can be more productive but let the workers have more power to stand up for their rights.

Question 19

What are the positives and negatives of consumerism?

Answer 19

Positives: provides essentials, provides choice of products ,stimulates the economy and crates prosperity.

Negatives: can make it expensive, produces greed, creates environmental issues, creates dependency, crates outsourcing, overusing of resources and creates the black market.

Question 20

How does marketing impact consumerism?

Answer 20

Marketing gives the producer information on how to make consumers spend more money which creates prosperity.

Question 21

What is a boom

Answer 21

Of fast economic growth, production is high due to increased demand and unemployment is low. Consumer confidence is high.

Question 22

What is a recession?

Answer 22

. Where economic growth slows down and the level of production me actually decrease unemployment is increased and consumer confidence is decreased.

Question 23

What is a slump?

Answer 23

A period where production slows down due to a reduction in demand.

Question 24

What is a recovery

Answer 24

A. That is in between a recession and a boom, it shows the first signs of a recession.

Question 25

How is consumerism used as a power of a collective?

Answer 25

In the form of boycotts and strikes

Question 26

To what extent do consumer actions reflect on the identity?

Answer 26

The things we buy reflect on who we are ,example young adventurous risk taker would buy Redbull and 65-year-old lady wouldn’t. (Understand what this topic is)

Question 27

To what extent do perspectives regarding consumerism economic growth and quality-of-life different regionally in North America? This is just a topic look at the answer

Answer 27

This is about GDP, all you have to understand is that Canada makes more than Mexico but the U.S. Makes more than Canada(the GDP)

Question 28

How does individual consumer behavior impact quality-of-life? (Environment)

Answer 28

Just understand the topic of how we dispose of things. For the environment when we throw away things we affect the environment which affects the Quality of life.