Economics Today and Tomorrow, Student Edition
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN: 9780078747663
Author: McGraw-Hill
Publisher: Glencoe/McGraw-Hill School Pub Co
Question
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Chapter 3, Problem 2AA
To determine

Introductory paragraph of brochure on how to be smarter consumers.

Expert Solution & Answer
Check Mark

Explanation of Solution

As a consumer people should obtain all the necessary information about the product they are buying. Information such as price, quality, expiry date, weight, and ingredients used, etc. consumerism is a term that is used for the movement that started in the 1960s to educate consumers about the purchases they make and to demand better goods and services from sellers.

Sellers try to attract more and more consumers by advertising their products. Consumers should carefully consider the claims of advertisers because advertisement is not always informative but sometimes it is deceptive as well. Competitive advertisement means to show one’s product better and superior to others to attract maximum consumers. In this case, the product may not be better but the seller tries to show better. Another type of advertisement is bait and switch that attract consumers by showing low prices and then try to sell at higher prices. It is a false advertising policy that consumers should be aware of.

Consumers also have the responsibility to show ethical behavior towards sellers. They should buy the things after doing sufficient research and should not bother sellers by buying and returning again and again. They should not return used products and should behave morally.

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