Vocab Flashcards
What is consumerism?
Consumerism is the social and economic ideology that encourages the acquisition of goods and services in ever-increasing amounts.
True or False: Consumerism is solely focused on the needs of individuals.
False
Fill in the blank: The __________ is the process of producing goods and services to satisfy consumer needs.
economy
What does the term ‘advertising’ refer to?
Advertising refers to the activity of producing advertisements to promote products or services.
Which of the following is a tactic used in advertising? A) Emotional appeal B) Price reduction C) Limited availability
A) Emotional appeal
Define ‘brand loyalty’.
Brand loyalty is the tendency of consumers to continue buying the same brand of goods or services instead of competing brands.
True or False: Consumer choices have no impact on the environment.
False
What does ‘sustainable consumerism’ mean?
Sustainable consumerism refers to the practice of purchasing products that are produced sustainably and ethically.
Fill in the blank: __________ is the idea that consumers can influence the market through their purchasing decisions.
Consumer power
What is a ‘target market’?
A target market is a specific group of consumers at which a company aims its products and services.
True or False: The concept of ‘planned obsolescence’ means products are designed to last indefinitely.
False
What does the term ‘impulse buying’ mean?
Impulse buying refers to making unplanned purchases without prior consideration.
Which of the following is NOT a form of consumer protection? A) Product warranties B) False advertising C) Consumer education
B) False advertising
Define ‘ethical consumerism’.
Ethical consumerism is the practice of purchasing products that are made ethically, considering factors like labor rights and environmental impact.
Fill in the blank: __________ refers to the amount of money consumers have available to spend after necessary expenses.
Disposable income
What is the role of consumer advocacy groups?
Consumer advocacy groups work to protect the rights of consumers and promote fair trade practices.
True or False: All advertising is considered misleading.
False
What is a ‘market economy’?
A market economy is an economic system where supply and demand dictate production and pricing.
Which of the following best describes ‘overconsumption’? A) Consuming less than needed B) Consuming more than needed C) Consuming exactly what is needed
B) Consuming more than needed
What does ‘consumer rights’ refer to?
Consumer rights refer to the legal protections afforded to consumers regarding the purchase of goods and services.
Fill in the blank: __________ is the practice of buying products that are not necessary for one’s lifestyle.
Consumerism
What is ‘greenwashing’?
Greenwashing is the practice of misleading consumers regarding the environmental practices of a company or the environmental benefits of a product.
True or False: Consumerism has no effect on cultural values.
False
What is ‘value for money’?
Value for money refers to the concept that a product or service is worth its price based on its quality and utility.
