CHAPTER 19 OUTLINE 1/28/08

Chapter 19 Outline
(Economics and the Consumer)

Chapter 19 has 2 sections, section one is about Economics and the Consumer It talks to you about The Free-enterprise System means that individuals or businesses may buy and sell and set prices with little government interference........Producers and consumers the people who provide goods and services are called producers and people that people who buys from companies are the consumers.......It also explains to you what a Marketplace is, a marketplace is where buying and selling occur....Price Fluctuation happens becouse of this things Supply and demand, Production costs, Competition.......Measuring the Economy the condition of the economy can determine how much you make at a job and what you can afford to buy....Gross Domestic Product this is known as the total dollar value of all goods and services produced in the United States. ....this section also talks about consumer price index and inflation and unemployment......

Section 2 is about You, the Consumer.....This section talks to you about Smart Shopping and this steps.....Pay attention to quality and when possible, plan the timing of you purchases also take advantage of discount stores and consider buying used or second hand goods last but not least to explore online options....also be beware of what you buy dont get Consumer Fraud becouse there are people outhere trying to cheat you.....there is also Groups that Protect Consumers....ther are Government agencies that helps the consumer such as THE FEDERAL TRADE COMPANY(FTG) THERE ARE ALLWAYS WARRANTY WHEN YOU BUY A NEW AND SOMETIMES USED ITEMS AT THE STORE THER IS ALSO CONSUMER GROUPS....