Family & Consumer Science: 1.05 A Responsible Consumer Review

Family & Consumer Science
1.05 Review: A Responsible Consumer

​This session will be recorded and distributed for learning purposes.  Learning purposes include: a lesson review for students who are absent, students who want to review for a test, teacher growth and improvement etc. This recording may include your name, picture/video, voice, comments, and likeness depending on your involvement in the session.

1.05: A Responsible Consumer 1

​Section Objectives:

After you have completed this section, you will be able to:

• Examine consumer protections provided by the federal government.

• Identify federal agencies responsible for protecting consumers.

• Research state and local consumer action groups and explain their roles.

• Evaluate consumer problems and identify the best recourse for the consumer.

• Identify the elements of an effective consumer complaint.

• Identify and evaluate sources of information for consumers when making buying decisions.

• Examine common financial scams and identify ways to avoid being a victim.

• Apply effective consumer strategies to make buying decisions.

​A Responsible Consumer Part 2

Let's talk consumer protection laws:
These laws protect buyers from sellers
How? By making it illegal for businesses to engage in unfair business practices, spread untruthful and inaccurate information, or sell dangerous products.

​Consumer Protection Laws
These are needed for 2 major reasons:

1. Some businesses engage in fraud (intentionally tricking someone to make a financial gain.)

2. Some companies will sell products they know are dangerous or unhealthy just to make a profit.

Federal Government Agencies to protect consumers:

Consumer Product Safety Commission: Protects public from injury /death from consumer products.
Federal Trade Commission: Works to prevent fraud, deception, unfair business practices, such as scams.
Food & Drug Administration (FDA): Regulates/tests foods and drugs for safety.
Internet Crime Complaint Center: Run by FBI. Protects consumers against cyber crime.

Multiple Choice

What does the Internet Crime Complaint Center do?

• The Internet Crime Complaint Center offers online shopping services.
• The Internet Crime Complaint Center is a social media platform.
• The Internet Crime Complaint Center provides internet access to the public.
• The Internet Crime Complaint Center collects and analyzes reports of internet-related crimes.

Multiple Choice

What does the FDA stand for?

• Food and Drug Administration
• Food and Dietary Association
• Federal Drug Agency
• Federal Department of Agriculture

Multiple Choice

What does the FDA do?

• The FDA only oversees cosmetic products.
• The FDA is responsible for regulating international trade.
• The FDA provides health insurance to citizens.
• The FDA regulates food, drugs, medical devices, and other products to ensure public health and safety.

Multiple Choice

What does the Federal Trade Commission do?

• The Federal Trade Commission oversees the stock market regulations.
• The Federal Trade Commission protects consumers and promotes competition.
• The Federal Trade Commission regulates international trade agreements.
• The Federal Trade Commission manages federal tax policies.

Federal Consumer Protection Agencies

There are many government agencies for help:

• Environmental Protection Agency (EPA): Promotes public health by protecting air, water, and soil from harmful pollution.

• Department of Justice (DOJ): Ensures that laws passed by the legislative branch are upheld.

• Securities and Exchange Commission (SEC): Enforce the federal securities laws and regulate the securities industry, the nation's stock and options exchanges, and other electronic securities markets.

• Federal Communications Commission (FCC): Regulates interstate and international communications.

• National Highway Traffic Safety Administration (NHTSA): Is responsible for reducing deaths, injuries and economic losses resulting from motor vehicle crashes.

Multiple Choice

The EPA stands for what?

• Environmental Planning Association
• Environmental Protection Agency
• Energy Protection Agency
• Environmental Policy Agency

Multiple Choice

What does the EPA do?

• The EPA regulates international trade.
• The EPA manages public transportation systems.
• The EPA oversees the stock market.
• The EPA protects human health and the environment.

Multiple Choice

What does DOJ stand for?

• Department of Justice Affairs
• Department of Jurisprudence
• Division of Justice Operations
• Department of Justice

Multiple Choice

What does the DOJ do?

• The DOJ enforces federal laws and represents the U.S. in legal matters.
• The DOJ oversees international trade agreements.
• The DOJ creates state laws and regulations.
• The DOJ manages local law enforcement agencies.

Multiple Choice

What does FTC stand for?

• Federal Trade Corporation
• Federal Trade Council
• Federal Trade Committee
• Federal Trade Commission

Multiple Choice

What does the FTC do?

• The FTC protects consumers and promotes competition.
• The FTC oversees environmental protection laws.
• The FTC regulates international trade agreements.
• The FTC manages federal tax policies.

Multiple Choice

What does SEC stand for?

• Securities and Exchange Commission
• Securities Evaluation Council
• Stock Exchange Committee
• Securities and Exchange Corporation

Multiple Choice

What does the SEC do?

• The SEC provides legal advice to corporations.
• The SEC oversees the banking industry.
• The SEC manages federal tax collection.
• The SEC regulates the securities industry and protects investors.

Multiple Choice

What does FCC stand for?

• Federal Communications Council
• Federal Control Commission
• Federal Communications Commission
• Federal Consumer Commission

Multiple Choice

What does the FCC do?

• The FCC regulates communications in the U.S.
• The FCC provides healthcare services.
• The FCC manages the U.S. military operations.
• The FCC oversees environmental regulations.

Multiple Choice

What does NHTSA stand for?

• National Highway Traffic Safety Administration
• National Highway Transportation Safety Agency
• National Highway Traffic Security Association
• National Health Traffic Safety Administration

Multiple Choice

What does the NHTSA do?

• The NHTSA provides insurance for car owners.
• The NHTSA oversees vehicle safety regulations and promotes road safety.
• The NHTSA regulates fuel prices for vehicles.
• The NHTSA manages public transportation systems.

Effective Consumer Complaint letters:

​When you have a complaint write to the company first (before contacting a govt. agency

• Authoritative letters: Clearly present problem.

• Friendly tone.

• Be clear and specific: What do you want them to do?

• Be concise and brief.

Consumer Scams:

A type of financial fraud.

Avoid being a victim by knowing what to watch out for.

Most common scam: Identity theft

Think before you buy!

Compulsive shopping is another trap that consumers may fall into. Without a budget and savings plan, consumers may find themselves unable to pay for the things they need because they splurged on nonessential items.

Let's go through the buying process.

Reorder

The buying process: Put the statements in order.

• problem recognition

• Information search

• Evaluating alternatives

• Purchase decision

• Purchase

1

2

3

4

5

• 1
• 2
• 3
• 4
• 5

Congratulations!
You have learned:

• Federal consumer protections

• How to write an effective complaint

• Scams

• The consumer buying process

You're ready...

Live session password for the week of Sept. 8th
Password: fraud

Take the 1.05 Quiz Friday Sept. 12th