Consumer Economics Final Terms

Front 1

Artificial/Planned Obsolescence

Back 1

a new need is created for consumers by industry that produces a demand by creating dissatisfaction with past models

Front 2

Budget/Budgeting

Back 2

a plan for the coordination of resources and expenditures; the amount of money that is available for, required for, or assigned to a particular purpose/ to allocate funds; to plan or provide for the use of in detail

Front 3

Cognitive Resources

Back 3

mental skill abilities such as the ability to concentrate, memory, problem solving, and reasoning

Front 4

Communication

Back 4

a process by which information is exchanged between individuals through a common system of symbols, signs, or behavior

Front 5

Companionate Family

Back 5

a family where husbands and wives are partners who married because they loved each other, rather than out of a sense of moral duty

Front 6

Conceptual Framework

Back 6

used in research to outline possible courses of action or to present a preferred approach to a system analysis project; built from a set of concepts linked to a planned or existing system of methods, behaviors, functions, relationships, and objects

Front 7

Conflict Resolution

Back 7

the process of consensus arrived at after discussion of a disagreement between people

Front 8

Consensual Families

Back 8

families that stress both the socio and concept orientation dimensions of communication, with the result that children are encouraged to explore the world about them, but to do so without disrupting the family's established social harmony

Front 9

Consumer Protection

Back 9

government regulation to protect the interests of consumers, for example by requiring businesses to disclose detailed information about products

Front 10

Consumerism

Back 10

the promotion of the consumer's interests

Front 11

Contingency Plan

Back 11

a plan designed to deal with a particular problem, emergency, or state of affairs if it should occur

Front 12

Corporate Social Responsibility

Back 12

the awareness, acceptance, and management of the implications and effects of all corporate decision making

Front 13

Cultural Rituals

Back 13

practices that serve to unite a particular group by preserving cultural identity and heritage

Front 14

Culture

Back 14

a set of learned beliefs, values, and behaviors of the way of life shared by the members of a society

Front 15

Delayed Gratification

Back 15

the ability to wait in order to obtain something that one wants

Front 16

Demand

Back 16

the quantity of a commodity or service wanted at a specified price and time

Front 17

Democratic Family

Back 17

a family that emerged at the end of the 18th century as a separate and private group in society where they married for love and children were nurtured

Front 18

Economic Resources

Back 18

the basic inputs or component parts of an economy such as land, labor, and capital

Front 19

Economics

Back 19

a social science concerned chiefly with description and analysis of the production, distribution, and consumption of goods and services

Front 20

Environmental Resources

Back 20

anything an organism needs that can be taken from the environment

Front 21

Esteem Needs

Back 21

a need to be respected, to have self-respect, and to respect others

Front 22

Family

Back 22

the basic unit in society traditionally consisting of two parents rearing their children

Front 23

Family Goals

Back 23

broad statements of ideal future conditions that are desired by a family

Front 24

Family Values

Back 24

values especially of a traditional or conservative kind that are held to promote the sound functioning of the family and strengthen the fabric of society

Front 25

Five Step Decision Making Process

Back 25

a flexible decision-making framework that incorporates recognizing existing need, identifying alternatives to fulfill identified needs, evaluating identified alternatives, selecting and implementing alternatives, and reflecting and evaluating alternatives selected

Front 26

Goal

Back 26

something that somebody wants to achieve

Front 27

Hierarchy of Needs

Back 27

Maslow's theory of motivation that states that we must achieve lower level needs, such as food, shelter, and safety, before we can achieve higher level needs, such as belonging, esteem, and self-actualization

Front 28

Locus of Control

Back 28

theory in psychology that originally distinguised between two types of people- internals, who attribute events to their own control, and externals, who attribute events in their life to external circumstances

Front 29

Modern Family

Back 29

a family that consists of a breadwinning husband, a housewife, and their children

Front 30

Morals

Back 30

ethics, codes, values, principles, and customs of a person or society

Front 31

Motives

Back 31

a thought pattern with feelings and values that leads to energized behavior

Front 32

Needs

Back 32

the psychological feature that arouses an organism to action toward a goal and the reason for the action, giving purpose and direction to behavior

Front 33

Needs Assessment

Front 34

Nontraditional Family

Back 34

the family that doesn't fit the social norm of the traditional family

Front 35

Nuclear Family

Back 35

the family group consisting of parents (usually a father and mother) and their children in one household

Front 36

Physiological Needs

Back 36

a person's most basic needs: food, shelter, and clothing

Front 37

Planning Process

Back 37

a process that begins with a decision and includes identification of a situation that requires action, a formulation of a plan, and the implementation of that plan

Front 38

Postmodern Family

Back 38

the contemporary family that is more diverse than in the past in terms of family structure and relationships

Front 39

Resource

Back 39

commodities and human resources used in the production of goods and services, anything identified to meet an existing or future need

Front 40

Safety Needs

Back 40

safety and security rank above all other desires and include physical security (safety from violence, delinquency, aggressions), moral and physiological security, family security, security of health, and security of personal property against crime

Front 41

Self actualization

Back 41

a driving life force that will ultimately lead to maximizing one's abilities and determine the path of one's life

Front 42

Social Responsibility

Back 42

consumers must act with concern and sensitivity, aware of the impact of their actions on others, particularly the disadvantaged

Front 43

Technostress

Back 43

the negative psychological link between people and introduction of new technologies

Front 44

Traditional Family

Back 44

a married couple and their biological child or children in one household

Front 45

Transactional Leadership

Back 45

guidance based in contingency, in that reward or punishment is contingent on performance

Front 46

Transformational Leadership

Back 46

behavior that is founded on the belief that leaders and followers can raise each other to higher levels of motivation and morality

Front 47

Value

Back 47

worth in usefulness or importance to the possessor; a principle, standard, or quality considered worthwhile or desirable

Front 48

Value Congruence

Back 48

the degree to which all members of the group agree on values about group processes and group work

Front 49

Want

Back 49

something desired, but not necessary