What is consumerism?
A social and economic order encouraging the acquisition of goods and services.
What is individual consumer behaviour?
The choices one person makes when buying goods or services.
What is collective consumer behaviour?
Buying patterns shared by a group of people.
How does marketing affect consumer behaviour?
It influences decisions and creates perceived needs.
What is advertising?
Promoting products or services to attract consumers.
What is brand loyalty?
Preference for a particular company’s products over competitors.
What is planned obsolescence?
Designing products to have a limited lifespan so consumers buy more.
What is a consumer boycott?
Refusing to buy products to protest a company’s actions.
What is consumer protection?
Laws and policies that protect buyers from fraud or unsafe products.
What is quality of life?
The standard of health
How does consumerism affect the environment?
Overproduction and waste can harm ecosystems.
What is ethical consumerism?
Making purchasing choices based on values like sustainability or fairness.
What is the underground economy?
Economic activity not reported to avoid taxes or regulations.
What is a product label?
Information on packaging about ingredients
What is a warranty?
A guarantee by the manufacturer about product quality.
What is comparative shopping?
Comparing prices and quality before buying.
What is credit?
Borrowed money used to make purchases.
What is debt?
Money owed by a consumer.
What is savings?
Money set aside for future use.
What is informed choice?
Making purchasing decisions based on research and knowledge.
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