Consumer Economics
Issues and Behaviors
Elizabeth B. Goldsmith
- 502 páginas
- English
- ePUB (apto para móviles)
- Disponible en iOS y Android
Consumer Economics
Issues and Behaviors
Elizabeth B. Goldsmith
Información del libro
From artificial intelligence to identity theft, from what we once thought of as unshakeable institutions to increasing concerns about privacy and sustainability, consumer issues are an integral part of daily life. This updated fourth edition of Consumer Economics offers students an accessible and thorough guide to the concerns surrounding the modern consumer and brings to light the repercussions of making uninformed decisions in today's global economy.
This definitive textbook introduces students to these potential issues and covers other key topics including consumer behavior, the history of the consumer movement, personal finance, legal rights and responsibilities, and marketing and advertising. Combining theory and practice, students are introduced to both the fundamentals of consumer economics and how to become better-informed consumers themselves.
Highlights in this new edition include the following:
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- New case studies and critical thinking projects to encourage students to develop their critical thinking skills through analyzing consumer issues.
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- Expanded coverage of social media and the impact of social influence on consumers.
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- Revised consumer alerts: practical advice and guidance to help students make smart consumer decisions.
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- A companion website with PowerPoint slides for each chapter.
Fully updated, this textbook is suitable for students studying consumer sciences—what works, what does not, and how consumers are changing.
Preguntas frecuentes
Información
Part 1
Chapter 1
When we all think alike, then no one is thinking.
- Understand consumer motivation.
- Define consumer economics.
- Explain the market economy.
- Describe Adam Smith’s contribution to consumer economics.
- Explain the five steps in the consumption process.
- Explain the three questions economies have to address.
- Describe the three parts of the business cycle.
Confronted by a guard at the entrance to Shanghai Disney, Wang Yaura used a package of cookies above her head and gave voice to a grievance that has roiled the Chinese nation: “Why is this not allowed inside?” Walt Disney Co’s ambition to make this theme park the happiest place in China hit a snag. Restive Chinese consumers, already buy couture Western-brands such as Versace and Coach…the restrictions have led to lawsuits.
U.S. retailers are facing a steep and persistent drop in store traffic, which is weighing on sales and prompting chains to slow store openings as shoppers make more of their purchases online. Aside from a small uptick in April, shopper visits have fallen by 5% or more from a year earlier in every month for the past two years, according to Shopper-Trak, a data firm that records store visits for retailers using tracking devices installed at 40,000 U.S. outlets.
Introduction
Give me the luxuries of life and I will willingly do without the necessities.
When I was young, I used to think that wealth and power would bring me happiness…I was right.
Money won’t buy happiness, but it will pay the salaries of a large research staff to study the problem.
One fifth of all leisure travelers journeyed alone in 2017, according to statistics from the U.S. Travel Association, and other research indicates that destinations such as Norway and Australia held particular appeal for their outdoor and cultural pursuits. The solo boom spans generations: millennial women are big spenders (a British Airways study of 9,000 people found 50 percent of females went alone…spurred on by a preference for experiences over things, as are tourists 65 and older, who boast longer life expectancies and higher median incomes than previous generations, per research from the University of Southern California.
- the multiple roles of consumers
- the roles of producers/manufacturers, suppliers, and retailers
- the government involvement in economic systems, and
- the decision-making process.
- enriches our lives by helping us get the things we want
- enlarges our awareness of the impact of globalization on our living standards, lifestyles, and future opportunities
- increases our understanding of the factors influencing our choices and the choices of others
- improves our understanding of how the marketplace works
- increases our awareness of what is fair
- encourages us to think carefully about how we spend and invest our money.
Why study consumer economics?
When I was younger, my father would send me to the store to run his errands: “Jessica is the only one who knows how to bring back change,” he would jokingly say. I learned about credit cards from my mother and cash from my father, but the most important lesson I learned from my parents is to take care of home first. With that being our family’s golden rule, we understood that when money came in, we would take care of living necessities before spending on leisure activities. I grew up in a middle-class family with strong values in Mesquite, Texas. My mother was a free spender, but only when my brother and I needed clothes for school or we needed something for the house. I often remember hearing her say, “Charge it,” but rarely did she splurge on herself. She used to take me with her to pay bills and sometimes let me give the teller the payment. I learned that if you use credit, you still need to pay more than the minimum amount before the due date.
- increase self-awareness
- understand others’ consumption patterns and perspectives
- approach daily living with enthusiasm and a can-do spirit
- overcome limitations and weaknesses by knowi...