Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
119 Cards in this Set
- Front
- Back
|
first food and drug law enacted in what year
|
1906
|
|
|
Average american consumers eat ________amount of trasfats per year
|
5 pounds
|
|
|
Foods
|
products frm plants and animals that can be taken into the body for energy and nutrients to sustain life and growth
|
|
|
Kolcarlorie
|
Measure of energy content in food
|
|
|
Federal Food drug and cosmetic act
|
Manufacturers are responsible for producing safe wholesome and truthfully labled food products and bottled water
|
|
|
things to determine consumers choice to eat / drink
|
personal preference... habit.. background.. convience.. emotions..religion.. cost.. body imagine..
|
|
|
Most expensive monthly item for consumers are 1st 3
|
housing. transportation.. and then food.. low income people spend higher portion of their income on food.
|
|
|
trasfats are made how
|
made when manufacturers add hydrogen to vegetable oil in a process known as hydrogenation
|
|
|
people under 25 spend more money on what food then other age groups
|
fresh fruit
|
|
|
#1 consumer of spam
|
Hawaii
|
|
|
How many adult percentage wise are overweight/ obeses
|
more than 60% of US adults are obese and overweight.. ( 27% are obese)....CDC( center for disease control)
|
|
|
# 2 cause of preventable cause of preventable death
|
obeseity
|
|
|
Slow foods movement advocates favor?
|
favor local ChZ and wines , met product such as sauage and disdain FRESH emphasis ORGANIC
|
|
|
SLow food movement started in
|
ITALY
|
|
|
Organicaly grown foods
|
Orgainic= crops grown and processed acrodingly to USDA regulation cant be treated with synthetic pesticides may have some in it through the soil ...1/3 of residuals than regular crops... cost is higher ( 15%-50% more than regular.... to get USDA organic seal it must ve 95% organic
|
|
|
Genetic engineering and its first food
|
use of biotechnology to modify genetic material of living cells so that they will produce new substances or preform ne functions ((TOMATO))
|
|
|
BIotechnology
|
use of biological systems / organisms create/ modify product EX: bacteria in yogurt.... Yeast in BEER
|
|
|
Food irradiation
|
exposing food to radiation for commericail purposes/ lengthen shelf life endorsed by CDC , AMA, and WHO
|
|
|
additives
|
substances added to food intential or accident
|
|
|
Opening Date
|
System of putting date on product date on product to tell consumers sold or consumed
|
|
|
pull date
|
last day product should be sold
|
|
|
expiration date
|
last day consumer should use product
|
|
|
QuAlity assurance date
|
last day product is at its PEak
|
|
|
PAck date
|
When product was packaged and made
|
|
|
End of isle displays
|
feature products at high costat the end of the isles rather than the middle
|
|
|
Loss leader
|
Brings in shoppers with lower price of one product but tie ins are complement product placed beside it @ jacked up prices
|
|
|
Delaney Clause
|
clause in food Additive Amendment to Food Drug Cosmetic act .. no substance tha is known to cause cancer can be in product (saccharin = artifial sweeter)
|
|
|
Calories
|
units by which energy is measured 1,000 calories= 1 Kilocalorie
|
|
|
unit pricing
|
unit pricing presentation of $ info on shelevs on common basis such as per ounce.... good for price comparison
|
|
|
PFID radiofrequency identification
|
tiny chip in product that automaticly tracks products they will replace barcodes
|
|
|
loss leader and tie ins
|
Tie ins - where complementary prodects are placed beside a product with a jacked up priceto compensate for the Loss leader( the very low priced product, advertised as a special to bring in customers
|
|
|
nutrition
|
science of foods and nutrients and their actions within the body
|
|
|
Preservatives
|
antimictobial agent, antioxidents other additives that retard spolige/ maintain desired quality
|
|
|
bottled water or soft drink... which has faster growing sales
|
bottled water
|
|
|
CDC
|
center for disease control.. mointors diesease transmitted to humans through food and water each year
|
|
|
EPA
|
Environmental protection agencey....... regulates pesticides and establish water quality standards
|
|
|
FDA
|
Food and drug administration.......sets a standard for food/ plants interstate and imported.. they test foods but not all. NO MEAT AND EGGS
|
|
|
USDA
|
US department of Agriculture..... enforces standards for the wholesomeness and quality of meat, polutry and eggs produced in US
|
|
|
WHO
|
World Health Orginization....... International agenecy that adopts standards on pesticide use and reports statistics on world food shortages
|
|
|
Structure Function claims
|
Claims that are made about products by their produccers and that are regulated by the FDA
|
|
|
life improved for people during the 20th century because
|
Vaccinations for kids....floridation in drinking water... safer worker places homes and schools....recognition of the severe health problems caused by tobacco use.... healthier mothers and babies as well as improved obsteric care... increase in life expectency... control of infectous diseases.... improved sanitiaiton
|
|
|
Wellness
|
the ability to live life with optimal health and vitality ecompassing physical emotinal intellectual spriatual interpersonal social and environmental wellbeing
|
|
|
wellbeing
|
state of being healthy, happy, and having the finaces to keep healthy comfotable and contented......PRESENT HEALTH AND EXPECTATION OF A GOOD LIFE
|
|
|
6 componenents of wellness
by Insel and Roth |
1.Physical wellness
2. Emotional 3. Intellectual 4. Spiratual 5. interpersonal and social 6. Environmental or planetary |
|
|
Physical wellness
|
Excersing eating well avoiding harmful habits making repoonsible decisions regarding sex regual doctor visits
|
|
|
emotional wellness
|
having ability to share feelings and being optimisticc and trusting
|
|
|
spiratual wellness
|
having a set of guiding belifes, values, or principles that add meaning to life and thinking beyond oneself
|
|
|
intellectual wellness
|
curiosity, sense of humor , open new ideas, love to learn and question thinks beyond ones self
|
|
|
Interpersonal and social wellness
|
developing satisfying relationships is important
|
|
|
environmental and planetary wellness
|
increasing personal health relies on health of the planet
|
|
|
Principle
|
the consumer of the health care services
|
|
|
Agent
|
The provider of health care
|
|
|
Consumer health
|
decisions that consumers make about health care products and services that they buy or that their insurance covers and the decisions that they make about their life style that affect health cares needs
|
|
|
Quacks
|
Unscrupulous indivduals specialized in medical or health swinders
|
|
|
Maslows Hierachy of Needs
|
(Bottom)
-Physiological needs -Safety -Belongingness and love -Esteem -Self-actualization |
|
|
Junk Science
|
Term when there is little or no evidence to support a claim
|
|
|
Medicare
|
Federal health insurance program for people age 65 or older and for mant people with disabilities
|
|
|
drugs
|
Any chemical other than food intended to affect the stucture or function of the body
|
|
|
OTC
|
Over the Counter Drug...Biggest is ASPRIN
|
|
|
3 leading causes of death
|
1 Hearth disease
2 Cancer 3 Stroke |
|
|
Malpractise insurance
|
Insurance doctors or clinics have in case they are sued by patents.. rates vary
|
|
|
Chronic Disease and Infectious Disease
|
Chronic Disease - Disease which develops and continues over a long period of time(VARIETY OF FACTORS--LIFESTYLE--)
Infectious Disease- Disease is communciable from person to person ; the causes are invading microorganisms such as viruses and bacteria |
|
|
hedonism
|
many products like tanning have sensory benefits-----taste feel, look, etc. good to use---
|
|
|
cues
|
Ads signs etc that will positively or negatively affect the consumer
|
|
|
Cigarette smoking is _________ in the US
|
-----DECLINING----
|
|
|
American Dream____
|
Own a home
|
|
|
If living in an area for less than _____years it may be better to rent than buy
|
3
|
|
|
homes can be --Illiquid assets-- meaning
|
They are difficult to sell readily to get the cash
|
|
|
PITI-
Lenders will estimate buyers ability to pay PITi when giving our a morgage |
P rinciple
I nterest T axes I nsurance |
|
|
Net worth
|
Assests minus liabilities
|
|
|
Freddie MAC
|
- 1970 became a stock holder- owned corporation designed to increase the supply of money that lenders can make available to home buyers and multifamily homes--- b/c of him more people have access to better home finacing better monthly payments etc.
|
|
|
closing
|
where the relistate is sent from seller to buyer
|
|
|
Manufactored housing
|
house Partially made in factory then moved to site of living
|
|
|
Coopeartive apartments
|
Found in big cities... own shares of the building as a whole with the right to lease a certain unit
|
|
|
Fixed rAte convential morgage last about
|
last 15-30 years...
|
|
|
ARMS
|
Adjustable rate mortgages... all interest rates to fluctuate within a range which is based on charges in the econmy---- less paid intially....better for newly weds or new hires
|
|
|
predatory lending
|
Lures people into loans they really cant afford by borrowing against the equity in their homes or a relatives home
|
|
|
Redlineing
|
Prohibited by law refers to practise of drawing a red line or other color around an area and marking that area as not receving the same treatment of others regarding finance
|
|
|
The equal credit oppourtunity act and the Fair housing Act
|
protect against discrimination when an indicidual applies a mortgage to purchase or refinance a home or to make home improvements
|
|
|
Depreciation and Appreciation
|
Depreciation= loss of value quickly right after purchace and slowly deteriate
Appreciation= increase in value |
|
|
Leasing
|
Contractual arrangement with terms concering the monthely payment security deposit and conditionn of the vehicle on return
|
|
|
Closed ended lease
"walk away lease" |
leaser returns the vehicle at the end of the lease period(3 years) and pays only for additional miles or repairs
|
|
|
Open ended or finance lease
|
the leaser pays the difference between the expected value of the leased vehicle and the amount for which the leasing company sells it in a open ended lease also end of lease payment
|
|
|
Single - payment lease
|
consumer has dicount on vehicle rental agreement if certain standards are met
|
|
|
Lemon laws
|
owners of new vehicles that repeatedally break down to get money back or get the car replaced -- the procedure to get money back is called revocation acceptance
|
|
|
revocation acceptance
|
procedure to get money back after lemon law .. must be in writting and is usually handled between the buyer and seller
|
|
|
unfair price-setting practice
HIGH BALLING |
high amount is offered for a trade in an increased new car price. it is possible that car owners would be better off selling their old car themselves rather than going tho through the dealer
|
|
|
unfair price-setting practice
LOW BALLING |
very low price quoted---but their are add ons at the end that drive the final price up
|
|
|
nexting
|
people buy stuff they are already thinking of next purchase
|
|
|
personal finance
|
covers spending, sAving investing and protecting of financial resources
|
|
|
Goals are based on _____ and are affected by
|
Goals are based on values attitudes and resources---- are affected by decision making
|
|
|
Vaules
|
principles that guide behavior
|
|
|
attitudes
|
likes and dislikes
|
|
|
decision making
|
process of making a choice between two or more alternatives
|
|
|
three steps in personal finance process
|
1. Setting financial goals
2. Activating plans 3. Evaulating and revisiing plans; going forward |
|
|
Budgets have what types of expenses
|
Fixed= rent
Variable= food and entertainment |
|
|
emergency fund
|
3- 6 months salary kept in liquid interest bearing account such as money market fund, short-term certificates of deposit (CD's) a savings account
|
|
|
Truth in Savings Act
|
requires finanicial institutions to reveal the annual percentage yield, fees charged, and info about rules regarding maintaing minimum balance
|
|
|
FDIC
|
Federal deposit insurance corporation------Government insurance of bank or savings and loan accounts ( up to 100,000 per account)
|
|
|
Excersice tax
|
collected from the manufactuer of a product pay when u purchase gas
|
|
|
regressive tax
|
The take a smaller share of peoples income as their incomes grow
|
|
|
Deductions
|
which expenses subtracted from income be4 figuring out the amount of taxes owed
|
|
|
Tax Avoidance
|
legal money management stratgey to reduce ones taxes through such investments as tax- deferred individual retirement accounts IRAs or charitable donations which are allowed under the tax code and should be documented
|
|
|
e-wAllets
|
internet based payment system that allows value to be transmitted through computers
|
|
|
Financial planner
|
looks at a persons total financial picture helps that person prioterize goals and then works out a plan to achieve those goals
|
|
|
CFP
|
Certified finanical planner
lots of test , 3 years of practical experience, and code of ethics |
|
|
certified divorce planner
|
specialist who is trained to focus on who gets assets in divorece with attornies
|
|
|
interest
|
rate of interest is determined by supply and demand---respond to change
|
|
|
credit cards ---what year
|
1973
|
|
|
loans an cosigner
|
Sums of money lent at interest
--the cosigner agrees to pay the loan if the borroer does not |
|
|
collateral
|
used to secure loans they are boats car etc
|
|
|
liens
|
legal rights to take and hold property if the person with th loan does not pay up
|
|
|
CRAs
|
Consumer reporting agency--- credit bureaus--- files contain info about your income and debit and credit history arrested etc.
|
|
|
Creidit score
|
all info plus assests, length of employment and length of living in one place bank rupsies and failure to pay bills negatively affect it
|
|
|
2 types of credit score
|
FICO score and online ones such as free credit report. com
|
|
|
FICO score
|
credit score system ranges from 300-850........below 500 hard to get loans... median is 623
|
|
|
Bankruptcy
|
legal resource open to insolvent debtors---try everything possible be4 this
|
|
|
Ch. 7 bankruptcy
|
"straight Liquidation chapter"------ in return for eliminiating debts the debtor agrees to turn over nonexempt assests and pay as much as possible to creditors ( alot of times creditor recieves nothing ) court erases all dischargable debt
|
|
|
Ch. 13 Bankruptcy
|
Which allows debators to repay some of the debt the owe and in return get to keep most of their property usually type of debtor is a person with regular income looks better on credit report have to be paid within 5-7 years
|
