Cons Ed Unit 1 Vocab Review

 A product is advertised but doesn’t actually exist. Customer is encouraged to buy a more expensive item instead

• Brand Advertising

• Bait and Switch

• Comparative Advertising

• Consumer

 Focuses on brand name

• Brand Advertising

• Bait and Switch

• Comparative Advertising

• Consumer

 Compares product to those of competitors

• Bait and Switch

• Brand Advertising

• Comparative Advertising

• Consumer

a person who buys and uses up goods

• Comparative Advertising

• Brand Advertising

• Bait and Switch

• Consumer

 the process of making a decision - usually for a big purchase or big life event.

• Bait and Switch

• Consumer

• Decision Making Process

• Brand Advertising

 Illegal way of stealing money - consumers think they are buying a product but it is a scam. 

• Informative Advertising

• Fraud

• Loss Leader

• Mixed Economy

Educates consumer on product

• Informative Advertising

• Loss Leader

• Mixed Economy

• Monopoly

 are illegal, keep prices low and promotes competition

• Monopoly

• Mixed Economy

• Loss Leader

• Informative Advertising

Selling an item for less than the store paid for it in order to get consumers in the door

• Mixed Economy

• Monopoly

• Loss Leader

• Fraud

protects private property and allows a level of economic freedom in the use of capital, but also allows for governments to interfere in economic activities in order to achieve social aims

• Monopoly

• Loss Leader

• Mixed Economy

• Fraud