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Chapter 1 Econ.

Review

TermDefinition
Harvey Wiley medical doctor proved that adding certain chemicals to food and drugs were dangerous
President JFK identified 4 basic rights of consumers in message to Congress
President Gerald Ford promoted the right to consumer education
Rachel Carson Revealed dangers of insecticides and pesticides
Ralph Nader focused attention on dangers of defective cars
Chase & FJ Schlink demonstrated effects of misleading advertising
Upton Sinclair exposed unsanitary conditions in meat packing plants
Financial Moderninzation Act requires banks to tell customers how their personal information will be shared
cookie used to predict a consumer's future purchases
identity theft illegal use of an individuals personal information
fraud deceitful conduct to manipulate someone and steal information
secure site uses safeguards to protect information from theft
social security number nine digit number used to track a person's earnings
consumer advocates people or organizations who work on behalf of consumers
goods physical objects that are produced by consumers
marketplace all of the good and services available for sale to the general public
retailers those who sell goods and services directly to consumers
consumer uses goods and services
worker produces good and services
citizen uses and pays for public services
redress remedy for a wrong or loss
consumer affairs departments Departments of business who communicates with consumers about their rights and needs
consumer action panels groups formed by trade associations to address consumer complaints
media mass communication like tv, magazine, radio and web sites
Created by: mstrigueros
Popular Economics sets

 

 



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