Consumer Education JEOPARDY! Get ready to play… Consumer Education JEOPARDY! 1.The room will be divided into two groups or teams. 2.Each side will take.

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Presentation transcript:

Consumer Education JEOPARDY! Get ready to play…

Consumer Education JEOPARDY! 1.The room will be divided into two groups or teams. 2.Each side will take turns selecting a question. 3.Each person from the team will have a chance to answer (we will go up and down the rows with each question so everyone gets a chance). 4.If you cannot answer within 20 seconds, the other team will have a chance to answer. 5.If they cannot answer within 20 seconds, the original team can answer. 6.Incorrect answers in Double Jeopardy will be penalized—so be careful! 7.You may use your books/notes but hurry up! Time will run out! 8.There are 6 Daily Doubles. 9.A score keeper is needed. 10.Answers must be in the form of a question. 11.The team with the most money wins! Let’s Play!

$500 $400 $300 $200 $100 Supply & Demand AgenciesProcessesExtrasAdvertising

What is Informative Advertising? Advertising that provides information that can help you make a good buying decision is Advertising

What is False? When there are important differences between brands or products ads tend to use rational claims True or False Advertising

What is False Most advertising attempts to get you to buy according to your common sense rather than your emotions True or False Advertising

What is Persuasive Advertising? Advertising that is designed to appeal to your emotions to influence you to buy a product is Advertising

What is Comparative Advertising? Advertising that tries to win your favor by showing its products qualities to those of a competing product is Advertising

What is False? When demand decreases while the supply of a product remains steady, the price goes up. True or False Supply & Demand

What is True? When supply increases and demand remains steady, the prices goes down? True or False Supply & Demand

What is demand? Name this part of the supply and demand graph. Supply & Demand

What is supply? The quantity of a product that producers are willing and able to make available for sale at various prices over a given time period is said to be Supply & Demand

What is exactly the same as demand? The equilibrium price for a product is the price at which the quantity supplied is Supply & Demand

What is false? A loss leader strategy is when a business advertises a low price but the product is “out of stock” when the consumer arrives. The store then offers a higher prices item. True or False Extras

What is True? Opportunity cost is the value of your next best alternative whenever you make a choice. True or False Extras

What is true? What, how, how much, and for whom products will be produced are the four basic questions economies answer regarding decisions on goods and services. True or False Extras

Who is the Manager? In a complaint process the second person you should speak to is_________ Extras

What is bait and switch? Trying to lure shoppers into the store by advertising an item at a very low price in order to try to sell them a more profitable item is known as: Extras

Who is store clerk? The first person to complain to about a product is: Processes

What is go up? When demand goes up, but supply stays the same, this will happen to prices. Processes

What is a law suit? After reporting a problem or concern with a product the last thing you should do if no one else has resolved the issue is file a: Processes

What is Consumer Reports? The Consumer Union test products and rates them based on their quality and reports them in the publication known as: Processes

What is the remedy sought by the consumer? A good letter of complaint should state the problem, include the model, serial number, date and place of purchase, and a______ Processes

Who is the Consumer Product Safety Commission? This agency handles complaints about the safety of most products except food, drugs, cosmetics, and cars: Agencies

Who are the Underwriters Laboratory or UL? This company test products safety from fire, electric shock, and other hazards. It is known as: Agencies

What are frauds and misleading ad claims? A major concern of the state’s attorney general’s office is: Agencies

What is the Better Business Bureau? This agency will provide consumers with information about particular firms but will not tell them where to buy a product. Agencies

What is the Federal Trade Commission? The agency that deals with deceptive advertising is called the Agencies