Welcome toConsumer Education and Economics

Room 102

Mrs. Jackson

8/17/10

• Introduction: About Me

• Index Cards: Name and Birthday

• Outline of class– Assign books

• Complete Textbook Condition slip– Name of Course Consumer Economics

– Packets

– Where to place completed work?

– Bell Work

• My Expectations for you– Be prepared

• Always have planner, packet, textbook and writing utensil with you

– Give 100% effort to learning• Avoid multitasking • Body language• Keep the room clean• Be considerate of others

– Do not interrupt others when they are talking, especially Mrs. Jackson

• If you are absent– It is your responsibility to ask me for missing

work– Work due day after you have returned to school

• Safety Instructions– Fire– Tornado– Hand Sanitizer

• Icebreaker-People Scavenger Hunt

• Homework due 8/19/10– Complete terms

Consumer Powers and Protection

Chapter One

Consumer Education and Economics

Bell Work

Complete Word Search: Turn In

8/19/10

• Term: Review• Article: Advertising to teens

– Author Susan Carney• Read: pages 23-26• Video: Glows in a Market Economy (7:30)• Review and discussion of reading• Study Guide: Questions 1-5• Quiz: Open Book section 1-1• Word Search

8/23/10

• Term Review section 1-1

• Review for Quiz

• Quiz: Open Book section 1-1

• Terms for Section 1-2

• Read pages 27-33

• Using media-Examples

8/25/10

• Term Review

• BBB activity-Look up local Business

• Consumer Reports

• Study Guide: Questions 6-13

• Handout: Rights and Responsibilities (pgs. 15-16)

• Handout: Which Agency?

• Watch Clip on Jamie Olivers Food Revolution – Chicken

8/27/10

• Go over terms

• Handouts: Rights and Responsibilities and Which Agency

• Quiz: 1-2 Open Book

• Video: IdentityTheftwww.ftc.gov/bcp/edu/microsites/idthef 

8/31/10

• Section 1-3 Term Review– Read: Identity Theft: How Does it Happen?

(page 35)

• Study Guide: 14-19

• Quiz: 1-3 Open Book

• Video: A Civil Action

• Your attitude will take you up or take you down. So the question is, what are you thinking?

What is a Consumer

• : one that consumes : as a : one that utilizes economic goods.

• Definition of Economic Goods: An economic good is a physical object or service that has value to people and can be sold for a non-negative price in the marketplace.

• http://www.kitzkikz.com/flashcards/

Study Guide

• 1. Consumer, worker, citizen.• 2. They affect which goods are produced and

which services are offered.• 3. Offer the right mix of products and provide

helpful service• 4. It has changed the way people communicate,

access information, and purchase goods and services. It presents consumers with many more options and makes it easier to buy on impulse.

• 5. They need to set goals, think critically, do their research, manage everyday finances, and plan for financial security.

• Section 1.2 Protecting Consumer Rights• 6. Investigate business practices, expose

unfair or dangerous situations, encourage the passage of laws protecting consumers.

• A consumer is someone who uses goods and services.

• Workers produce goods and services.

• As a citizen, you use public services, pay taxes, and have the right to vote.

e: www.craftideasonline.com/cartoon_super_heroes...

• 7. Rachel Carson

• 8. The right to seek legal remedy for a wrong or a loss.

• 9. By enforcing laws against dishonest advertising and by working in the areas of credit transactions, product labeling, and privacy.

• 10. National Telecommunications and Information Administration.

• 11. By testing products and reporting the results in Consumer Reports.

• 12. To communicate with consumers about their rights and needs; to provide information; to handle complaints.

• 13. They help alert consumers who have bought the product and tell them what to do.

• Section 1.3 Safeguarding Your Privacy• 14. The illegal use of an individual’s

personal information. It can cause a person serious financial harm.

• 15. Because it can be used to access bank and credit card accounts and other personal information.

• http://www.ftc.gov/bcp/edu/microsites/idtheft/consumers/rights.html

http://www.identitytheft.com/

• 16. Police; bank and credit card companies; the three major credit reporting agencies.

• 17. So that it can send you additional catalogs or promotional materials.

• 18. Send out privacy notices that explain company policy regarding the sharing of customers’ personal information.

• 19. A practice in which companies gather information about the Web sites consumer visits. You can prevent it by setting your Web browser not to accept cookies.

Terms

• Page 40

• Deceptive advertising

• Bait and switch

• Fraud

• Pyramid scheme

• Chain letter

Section 1.4 Recognizing Deception and Fraud

• 20. A retailer advertises a bargain item that it has not intention of selling, in the hope of attracting customers and persuading them to buy a more expensive product.

• http://www.powerhomebiz.com/vol2/typing.htm

• 21. Because they get people to contribute money based on false promises.

• 22. Because they are impossible to sustain.

• 23. To prevent others from being victimized in the same way.

• Section 1.5 Resolving Consumer Problems

• 24. Make sure you can state the problem clearly; decide what outcome you desire; gather up any receipts and product information related to the purchase; make sure you know the store’s policies.

• http://www.bbb.org/alerts/article.asp?ID=771

• 25. Take careful notes, including the name of the person you spoke with, the date of your conversation, and the actions that were discussed.

• 26. Copies of your sales receipt and any other supporting documents.

• 27. A neutral third party helps them communicate and work out a solution.

• 28. You are agreeing that the arbitrator’s decision will be final.

• 29. Small claims court, lawsuit, class action suit.

• 30. They might file the suit if they all have the same complaint about a product.

Rights and Responsibilities (15-16)

• 1. The right to safety: The quality of the grill was so poor that it failed in its first use. A buyer has a right to expect a product to perform well in its normal use.

• 2. – The responsibility to use products safely. Mr.

Samsoe left the lighted grill unattended, and he ignored the warning that the grill was for outdoor use only.

– The responsibility to use information: Mr. Samsoe should have checked first to find out whether it was safe to use the grill indoors. He could have then waited until he could use the grill outside.

• 2.

– The responsibility to choose carefully: Mr. Samsoe should have checked the construction to make sure the grill he purchased was sturdy.

• 3. Answers will vary. Mr. Samsoe should contact the Consumer Product Safety Commission. He could also write a letter of complaint to the manufacturer and/or the store where he purchased the grill.

Which Agency? (17)

• 1. Consumer Product Safety Commission

• 2. U.S. Department of Agriculture

• 3. Food and Drug Administration

• 4. Food and Drug Administration

• 5. Federal Trade Commission

• 6. Federal Communications Commission

• 7. Federal Trade Commission

Deceptive Deals (18)

• 1. No, the salesman’s high-pressure sales tactics served as a red flag. If the vacation units are now under construction, there’s no guarantee that they’ll ever be completed.

• 2. You should be able to find out about government job opportunities without spending any money. Try contacting the Postal Service yourself or visiting their Web site.

• 3. The absence of a phone number or an address is suspicious. Next time, make sure the worker is insured and check with references to determine the quality of the company or individual’s work. Be wary of someone who approaches you about work.

• 4. Because the store was “out” of cameras immediately, it sounds like they were attempting to bait and switch tactic. That is considered deceptive advertising.

Is this deception?

Section 1-1 Test

• 1. 0• 2. +• 3. 0• 4. +• 5. +• 6. C• 7. A• 8. B• 9. D• 10. C

• 11. Worker

• 12. Services

• 13. Goods

• 14. Spending

• 15. Marketing

Section 1-2 Test

• 1. E• 2. F• 3. C• 4. G• 5. D• 6. 0• 7. +• 8. 0• 9. +• 10. +

• 11. A

• 12. B

• 13. D

• 14. D

• 15. B

Section 1.3 Test

• 1. D• 2. I• 3. E• 4. H• 5. G• 6. C• 7. 0• 8. 0• 9. 0• 10. 0

• 11. +• 12. +• 13. +• 14. +• 15. +• 16. Financial• 17. https://• 18. 13• 19. Cookies• 20. fraud

Section 1.4 Test

• 1. E• 2. A• 3. G• 4. C• 5. F• 6. 0• 7. 0• 8. +• 9. 0• 10. 0

• 11. +• 12. 0• 13. 0• 14. 0• 15. +• 16. +• 17. +• 18. 0• 19. +• 20. +

Section 1.5 Test

• 1. +• 2. 0• 3. +• 4. 0• 5. +• 6. 0• 7. +• 8. 0• 9. 0• 10. +

• 11. D

• 12. A

• 13. C

• 14. C

• 15. A