Ch 5 Vocab - Consumer Awareness

The unauthorized use of your debit or credit card number and PIN or the forging of your signature is known as:

• Identity Theft

• Domestic Violence

• Card Fraud

• Car Theft

Extra coverage for the repair or replacement of items purchased is called:

• Manufacturer's Warranty

• Powertrain Warranty

• Extended Warranty

• Credit Life And Disability Insurance

The act of fraudulently gaining and using the personal information of someone else, usually for financial gain, is known as:

• Ponzi Scheme

• Identity Theft

• Identity Fraud

• Phishing

The part of your brain that controls memory, impulses, and thoughts is called the:

• Prefrontal Cortex

• Frontal Lobe

• Amygdala

• Cerebellum

A promise from the manufacturer that a product will be replaced or repaired if it's faulty is known as a:

• Manufacturer's Warranty

• Powertrain Warranty

• Extended Warranty

• Limited Warranty

The process of communicating the value of a product or service to customers is called:

• Marketing

• Advertising

• Production

• Consumerism

The financial opportunity that is lost when you choose to do something else with your money is known as:

• Economic Value

• Consumer Cost

• Opportunity Cost

• Sunk Cost

Buying anything without planning to do so in advance is called:

• Extended Problem Solving

• Impulse Buying

• Demand-enhanced Buying

• Planned Buying

The theory that spending money and consuming goods is good for the economy is known as:

• Retail Therapy

• Environmentalism

• Consumerism

• Marketing

The shopping people do to lift their mood when they're discontent is called:

• Consumerism

• Emotional Shopping

• Impulse Buying

• Retail Therapy