Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
EPF M4 Review
Economics & Personal Finance Module 4 Review
| Term | Definition |
|---|---|
| Media | A means of communication with a large influence. |
| Social Media | Forms of electronic communication (such as websites for social networking and microblogging) through which users create online communities to share information, ideas, personal messages, and other content (such as videos). |
| Marketing | The process or technique of promoting, selling, and distributing a product or service. |
| Influencers | People who are experts in a certain field or craft that use social media to educate other people in their field or craft. |
| Instant Gratification | Feeling you get, immediate satisfaction, instant pleasure, reward at once, prompt enjoyment, when you buy the product/service. |
| Better Business Bureau | A nonprofit membership organization with chapters throughout North America that are focused on advancing marketplace trust. It promotes that mission primarily through two functions: rating businesses based on their reliability and performance, and facilitating the resolution of consumer complaints. |
| Consumer Reports | Evaluates products, services, and even insurance. The publication is produced by the nonprofit organization Consumers Union every month and its buying guides, tests, evaluations, and comparisons are all based on the magazine's own in-house testing. |
| Consumer Financial Protection Bureau | A regulatory agency charged with overseeing financial products and services that are offered to consumers. It is divided into several units: research, community affairs, consumer complaints, the Office of Fair Lending, and the Office of Financial Opportunity. These units work together to protect and educate consumers about the various types of financial products and services that are available. |
| Goods | Physical (can be touched), tangible things we produce. Consumers buy or sell and eventually consume them. Goods can be stored or transported. |
| Services | Are non-physical (cannot be touched), intangible parts of our economy. |
| Social Responsibility | Means businesses acting in a manner that benefits society to maximize shareholder value. |
| Consumer Product Safety Commission | A government agency that protects consumers from products that may present safety hazards. The items that could pose a safety risk are fire, chemical exposure, electrical malfunction, or mechanical failure. Products that expose children to danger and injury are a high priority for them to investigate. They also issues recalls of products that may be defective or that violate mandatory safety. |
| Customer Service | When the seller and buyer are in direct one-on-one interaction with each other in a transaction. |
| Warranty | Guarantee that a manufacturer or seller makes regarding the condition of its product. In addition, terms and conditions of the warranty will pertain to how repairs or exchanges will be handled in the event that the product does not function as originally described or intended. |
| Identity Theft | A crime when personal or financial information has been compromised from one individual and then used by another person to commit fraud. |
| Fraudulent Practices | Misrepresented facts to influence the obtainment of a contract that causes harm to a purchaser. |
| Ponzi Scheme | A fraudulent investing scam promising high rates of return with little risk to investors. The scam, in it’s true essence, pays early investors money from new investors and falls apart when no new investors come along to keep the flow of money going. |
| Investment Scams | Fraud that involves the illegal sale or purported sale of financial instruments. |
| Internet Fraud | The use of Internet services or software with Internet access to defraud victims or to otherwise take advantage of them by: Business E-Mail Compromise (BEC)Data Breach: Denial of Service: E-Mail Account Compromise (EAC): Malware/Scareware Phishing/Spoofing, Ransomware. |
| Advance Fee Schemes | Occurs when the victim pays money to someone in anticipation of receiving something of greater value—such as a loan, contract, investment, or gift—and then receives little or nothing in return. |
| Telemarketing | A common form of marketing companies use to connect with potential customers of their products or services by making telephone calls to existing or potential customers. |
| Skimming | A method used by identity thieves capture payment and personal information from a credit card holder. |
| Prime Bank Note Fraud | Encourages people to send money to a foreign bank, where it is then transferred to an off-shore (outside of the country you live in) account in the control of the con artist. then the money will no longer exist. |
Created by:
dmcsorley13
Popular Social Studies sets