1. © South-Western Educational Publishing Chapter 28 Role of Consumers in a Free Enterprise System  Our Free Enterprise System  Consumer Problems

2. GOALS © South-Western Educational Publishing Lesson 28.1 Our Free Enterprise System  Discuss the basic characteristics of the marketplace.  List and describe the three basic components of a free enterprise system.

3. © South-Western Educational Publishing Characteristics of the Marketplace  Scarcity  Supply and demand  Consumer power  Producer power

4. © South-Western Educational Publishing Parts of a Free Enterprise System  Competition  Purchasing power  Informed consumers

5. GOALS © South-Western Educational Publishing Lesson 28.2 Consumer Problems  Describe deceptive practices used to defraud consumers.  Discuss how to be a responsible consumer.

6. © South-Western Educational Publishing Fraudulent and Deceptive Marketing Practices  Bait and switch  Fake sales  Low-balling  Pyramid schemes  Pigeon drop  Fraudulent representation  Health and medical product frauds  Infomercials  Internet fraud  Telemarketing fraud

7. © South-Western Educational Publishing Being a Responsible Consumer  Identify deceptive practices.  Shop smart, including online.  Stay informed.  Seek redress.