KEENEN MILLSAPP

CONSUMER EDUCATION

FINAL EXAM

CHAPTER 1 CONSUMER POWER Someone who uses goods and services Goods-Physical objects Services-Actions performed by someone Consumer rights, Safety, informed,

choose, heard, redress, consumer education and service.

These facts are very important when I want to buy goods. I can know all my rights as a consumer. I got this from hand out Power of consumer hand out.

CONSUMER POWER What a consumer? A consumer is

someone who uses goods and services. What are goods? Goods are physical

objects that are produced, such as radios, chocolate chip cookies, and magazines.

I got this information from Consumer Education & Economics book, page 23.

CONSUMER POWER What are Utilities? Utilities are thing

in your house of apartment you have to pay for, like house phone, cable, and gas service.

What is Household Goods? Household goods are tissue, soup and food.

http://www.consumerfed.org/pdfs/2010-Consumer-Complaint-Survey-PR.pdf

CHAPTER 2 CONSUMER DECISION MAKINGDECISION MAKING STEPS

Identify the Decision Identify the resources collect

information Identify the options Buying goods is hard doing it by myself,

as I get older I need to make smart decision with money, and this will help me.

The handout with this information is Chapter 2 priorities and Goals

CONSUMER DECISION MAKING

What are needs? Needs are things you must have in order to live.

What are wants? Wants are things you desire to have.

I got this information from Consumer Education & Economics book, page 53

CONSUMER DECISION MAKING What is Jewelry? Jewelry is personal

ornaments, such as necklaces, rings, or bracelets.

What is Entertainment? Entertainment is the action of providing or being provided with amusement or enjoyment.

http://www.mcwdn.org/ECONOMICS/NeedWant.html

CHAPTER 3 ETHICS

Ethics; guidelines for human behavior. This important because it tell you what right from wrong. And show you how can you make a mistake by your belief.

I got this information from Chapter 3 Consumer Ethics handout.

ETHICS What is ethics? Ethics are guidelines for

human behavior based on principles about what is right and wrong.

What is Shoplifting? Shoplifting is taking something that don’t belong to them.

I got this information in consumer education & economics book on page 75 and 77.

ETHICS What is Goals and Policies? Goals

and Policies is to tell your employees what is and what not accepted in the workplace.

What is Moral Decision-Making? Moral Decision-Making is living to your moral in a workplace, so don’t steal from your job.

http://smallbusiness.chron.com/morals-ethics-workplace-11363.html

CHAPTER 4 CAREERS Find what you want to do and go get it.

Go to job interview, dress nice for the job you want, and make eye contact.

it is important to come to a job interview ready, this will help me getting a job down the road.

I got this information from career videos handout.

CAREER What is a Career? A career is a series of

related jobs or achievements through which a person progresses in a particular field.

What is standard of living? Standard of living refers to the way you live.

I got this information from Consumer Ed book page 93 to 94.

CAREER How to get a career? You have to build

your qualification, by making a resume of all the things you have been involved in.

What else can you do to get a career? Get good at a skills and do your homework on the car

http://www.wikihow.com/Get-a-Jobeer you want to be.

CHAPTER 5 U.S. ECONOMY Economics is the social science that

examines how societies use scarce to produce.

This is important because it tell why economic systems is used.

I got this from the Chapter 5 Notes handout.

U.S. ECONOMY What is economics? Economics is the

social science that examines how societies use scarce resources to produce and distribute goods and services.

What is Economic system? Economic system is the way a society uses resources to satisfy its people’s needs and wants.

I got this information from consumer Ed book page 127 to 128.

U.S. ECONOMY What is a tax hikes? It is on tax rates

and the total amount of new revenue to be included in a deficit-reduction deal.

What is inflation? Inflation is A general increase in prices and fall in the purchasing value of money.

I got this information at http://www.reuters.com/finance/economy

CHAPTER 8 TAXES The taxes in our country buy the

teachers, schools and for roads to be build.

U.S. is third lowest on: Income tax rates of the world.

I got this information from U.S. tax forms 2012 handout.

TAXES What is a salary? Salary is a set amount

of money earned by an employee per year.

What is a wages? Wages are employee earnings that are paid by the hour, day, or item.

I got this information from the Consumer Ed book, page 191 to 192.

TAXES What is sale and use tax? Sales and use

tax is calculated as the purchase price times the appropriate tax rate.

What is value added tax? A value added tax (VAT) is a form of consumption tax.

I got this information from http://en.wikipedia.org/wiki/Taxation_in_the_United_States#Sales_and_use_tax

CHAPTER 9 BUDGETING Make a budget now, choosing

investments to grow your money with 1st job.

Establishing credit and managing it wisely at the age of 18.

Obtaining insurance with 1st job Retirement plans and employee benefits

with 1st job I need this information when I am on my

own in the real world. I got this information from chapter 9 looking at your finances.

BUDGETING What a budget? A budget is a plan for

spending and saving your money. What is a balance sheet? A balance

sheet is a statement of what you own and what you owe.

I gather this information from Consumer Ed book page 210 to 211.

BUDGETING What is financial life? It is a balance

sheet to calculate my Net Worth, keeps track of account numbers, and other information about all my financial accounts.

What is bill payment schedule? It a sheet to make sure everything balances and gets paid at the right time.

I gather this information from http://christianpf.com/10-free-household-budget-spreadsheets/

CHAPTER 10 BANKING AND CHECKING

Banking keeping money in the bank. Money in the bank have interest as long

as it in the bank. If you take money out bank, the change

you interest, like 9% I gather all this information from

banking and checking handout videos.

BANKING AND CHECKING

What is interest? Interest is a fee paid for the opportunity to use someone else’s money over a period of time.

What is the FDIC? IT the federal deposit insurance corporation, is a federal agency that insures savings, checking.

I got all this information from Consumer Ed book page 237 to 239.

BANKING AND CHECKING When your check bounced will it affect

your credit? Well the bounced check do not get reported to major credit bureaus.

What affect my credit when it come to banks? There are a lot of myths about how credit scores work and what affects credit in general.

I got this information from http://banking.about.com/od/creditscoresandreporting/a/affectcreditfaq.htm

CHAPTER 11 CREDIT Credit, building good credit by buying

things and paying bills on times gave you good credit.

it important to make a good credit scone so in the future you can get a loan for a house you want.

I got this information from the credit handout in class.

CREDIT What is credit? Credit is the supplying of

money, goods, or services at present in exchange for the promise of future payment.

What is creditor? Creditor is a business or organization that extends the credit.

I gather this information from Consumer ED book, page 261.

CREDIT What is a credit score? A credit score in

the United States is a number representing the creditworthiness of a person.

What a credit risk? A risk to the lender that you will not repay your debt.

I got this information from http://www.lexingtonlaw.com/credit-education/credit-risk/

CHAPTER 19 BUYING A CAR Tips on buying a car Test drives the car Call the mange to beat the other car

company prices This is important because when I buy a

car one day I don’t want to be tricked. I got this information from the tips on buying a used/new car handout.

BUYING A CAR What is mass transit? Mass Transit is

transportation systems designed to carry large numbers of people, may be an option.

What exhaust emissions? Exhaust emissions pollutants such as hydrocarbons and carbon monoxide, pollution.

I got this information from the Consumer Ed book page 481 to 482

BUYING A CAR How much will a new car really cost? It

depend on the model, most of the time the company tell you how much you pay a month and not the whole thing.

What do CTA means? CTA is commodity trading advisor.

I got this information from http://www.investopedia.com/terms/c/cta.asp

CHAPTER 21 FOOD DECISIONS Watch the food that you eat. You may think it come from farmer but

really it no more real farmer and no more good food.

I got this information from Food Inc. handout.

FOOD DECISIONS What is nutrition? Nutrition is the

process of using food to nourish your body.

What is nutrients? Nutrients is the substances found in food that enable the body to function properly.

I got this information from Consumer Ed book, page 524.

FOOD DECISIONS What a diet? The kind of food that a

person eats. what is obesity? Overweight and obesity are

both labels for ranges of weight that are greater.

I got this information from http://www.cdc.gov/obesity/adult/defining.html