Textbooks
and Course Materials:
Title: Consumer Economics
Author: Reiboldt
Edition: 18
ISBN: 9781792424052
Publisher: Kendall/Hunt Pub. Co.
Required: Yes
WEEK #3 CHAPTERS 7
& 8 SUMMARY QUESTIONS
1.
Define customs and explain why they are
difficult to change using examples and personal experience. (3 points)
2.
Explain and give
examples of the concepts of fashion, fad, and style. (3 points)
3.
How does
advertising influence consumer purchases? Give an example of how you made a
purchase based on an advertisement. Explain how satisfied you were in relation
to what the ad promised. (2 points)
4.
How do
businesses use pricing to entice consumers? Give examples that illustrate the
different retail pricing strategies. (4 points)
5.
Identify how
consumers can apply knowledge of pricing strategies to their advantage. Explain
with examples. (4 points)
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