Flashcards
Chapter 15 Consumerism
Cards in this deck (20)
- 1ConsumerA person who uses products and services in a commercial economy.
- 2ConsumerismA term denoting (1) a movement to promote the rights, and powers of consumers in relation to sellers, and (2) powerful ideology in which the pursuit of material goods beyond subsistence shapes social conduct.
- 3EnlightenmentA wave of new, challenging ideas based on human reason and scientific inquiry. It swept over Western Europe in the eighteenth century.
- 4IndividualismThe idea, arising in the Enlightenment, that human beings are ends in themselves.
- 5MaterialismAn emphasis on material objects or money that displaces spiritual, aesthetic, or philosophical values.
- 6The Consumer's Protective ShieldThe Food and Drug Administration (FDA), The Federal trade Commission (FTC), The Consumer Product Safety Commission (CPSC), The National Highway Traffic Safety Administration (NHTSA), Consumer Protection by Other Agencies.
- 7The Food and Drug Administration (FDA)The original legislation gave it power to regulates misbranded and adulterated food, beverages, and drugs. Congress has now added 41 more statutes expanding the responsibilities.
- 8The Federal trade Commission (FTC)Congress created this as an independent commission, giving it broad powers to protect the public from unfair competition.
- 9The Consumer Product Safety Commission (CPSC)Its mission is "to protect children and families from unreasonable risks of injuries associated with consumer products."
- 10The National Highway Traffic Safety Administration (NHTSA)Mission of reducing motor vehicle deaths and injuries.
- 11Consumer Protection by Other AgenciesThese include The Environmental Protection Agency, The Food Safety and Inspection Service, The Equal Employment Opportunity Commission.
- 12Director InterlockA situation arising when an individual sits on the board of directors of two or more corporations. This is illegal under the Clayton Act of 1914 if the corporations compete in the same market(s).
- 13Product LiabilityA doctrine in the law of torts that covers redress for injuries caused by defective products.
- 14TortA private wrong committed by one person against another person or her or his property. An injury to a consumer caused by a manufacturer's defective product is one kind of tort.
- 15NegligenceAn unintentional failure to act as a responsible, prudent person exercising ordinary care.
- 16PrivityA relationship giving parties a common interest under the law, as in the relationship between parties to a contract.
- 17WarrantyA contract in which the seller guarantees the nature of the product. The seller must compensate the buyer if the warranty is not fulfilled.
- 18Express WarrantyAn explicit claim made by the manufacturer to the buyer.
- 19Implied WarrantyAn unwritten warranty that a product is adequate to meet a buyer's reasonable expectations that it will fulfill its ordinary purpose and the buyer's particular purpose.
- 20Strict LiabilityThe theory that liability exists, even in the absence of negligence when an activity or product is inherently dangerous.
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- Flashcards on Chapter 15 Consumerism, created by Casey Coltran on 31/03/2019.
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- Casey Coltran
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