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Consumer Economics B1

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Term
Definition
Bait and Switch   show
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show A type of hands-off economic system in which producers and consumers are free to operate and compete in business transactions with minimal, if any, goverment interference or regulation  
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show A type of hand-on economic system in which the government owns and controls most, if not all, of the productive resources of a nation  
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show The rivalry among sellers in the same marker ro win customers  
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Deception   show
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show All activities related to the production and distribution of goods and services in a geographic area  
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show Buying something without thinking about it and making a conscious decision  
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Loss Leader   show
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Market Economy   show
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show The value of your next best choice - What you are giving up  
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show A multilevel marketing plan that promises members (distributors)  
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show internal complaint-handling procedures through which consumers seek compensation or to rectify the problems that occur during e-commerce transactions  
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Scarcity   show
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Traditional Economic System   show
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Created by: Raul_Aquino
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