Week 4 Flashcards
Modular home
Home kits, cheaper, prefabricated buildings
Kelley Blue Book
List of all the years cars- price, value, etc
Mobile home
Permanent house trailer
Ralph Nader
Consumer protection, humanitarian, environmentalism, and American political activist
JFK
Introduced consumer bill of rights in 1962
Lemon laws
American state laws that provide a remedy for purchasers of Lemons
Energy star
Company that labels products to be energy efficient
Nafta
Allows for easier trade between US, CAN, and MEX
Small claims court
Right to be heard: dot need a lawyer
Vin number
Vehicle identification number, helps with finding info about that car
Multi family home
Rental property that holds more than one residential unit
Duplex
2 dwelling units, usually rented- small
Subsidies
A sum of money granted by govt to assist business with commodities or service
Consumer movement
What people are buying and tithe prices, places, and products
Caveat emptor
May the buyer beware
Equal credit opportunity act
1974 act that says you can’t discriminate
Sticker price
Never pay this except if ordering car
Invoice price
After everything is finalized- aka delivery price
Single family home
More expensive, what we live in
Recall
To bring back a unsafe product
Quota
Govt limit on quantity or value of certain imported items that tend to raise consumer pricesp
Food and drug administration
Labeling for allergies ingredients etc
Federal trade commission
Monitors advertising and prevents and acts upon false ads
Federal Communications Commissio
Give licenses to tv stations and monitors what we see
United States postal service
Monitors for mail fraud, not just deliver mail
Consumer product safety commission
Recalls and bans unsafe products
Interstate commerce commission
Monitors surface transportation and trade across state borders
Security deposit
Money the landlord from the tenant other than advance payment of rent
Foreclosure
When bank takes over your unpaid goods usually homes
Pyramid schemes
Starts with one, a letter to 10 ask for money say they will et some, then those ten send a letter to ten more people
Fair housing act
1968 equal housing opportunities or all
Consumers bill of rights
JFK 1962
The 3 economic roles you play in your lifetime?
Producer, consumer, and citizen
