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HACE 2100: Test 1
FDA
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Food and Drug administration
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CPSC
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Consumer Product Safety Commision
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FDIC
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Federal Deposit Insurance Corp.
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USDA
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U.S. Dept. of Agr.
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SEC
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Securities and Exchange Commission
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CCC
|
Civilian Conservation Corps.
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FCIC
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Federal Corp Insurance Corporation
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Teddy Roosevelt
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1901-1909
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FDR
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1933-1945
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JKF
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1961-1963
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Real GDP
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adjusted to inflation
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Quantity Supplied
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movement ALONG the supply curve
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Quantity demanded
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movement ALONG dem. curve
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Law of Supply
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rule stating that the price and quantity supplied move in the same direction.
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Law of Demand
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if nothing else changes, and prices drop, demand goes up.
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Giffen Good
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a good for which demand increases as price increases.
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consumer sovereignty
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consumer's wishes determine what's produced
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Adam Smith
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Wrote Wealth of Nations in 1776
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Ralph Nader
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"Unsafe at any speed" book. Car safety advocate.
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Esther Peterson
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Women workers rights "equal pay for equal work."
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Consumption process
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Awareness
Thinking
Planning
Implementing
Evaluating
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Legislature set max hours for kids labor 55 hrs.
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1906
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Fair labor standards act
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1938
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first state child labor law
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1836
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Wholesome meat act
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1967
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First Woman to run for president
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Victoria Woodhull 1872
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MA requires kids to go to school
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1852
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Harvey Wiley
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Poison squad
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Fair Credit Billing Act
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1974
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John Maynard Keynes
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"General Theory of Employment"
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Consumers are.....
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Rational and acquisitive
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ABC Model
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Affective response, Behavioral Intention, Cognitive Response.
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Caveat Emptor
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Warning to consumers that product is "as is"
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Lucy Stone
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First woman to grad college in MA
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Elizabeth Cady
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did not say "obey" in marriage vows
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