Consumerism

Consumer Economics

An academic field that utilizes economic concepts and principles, along with normative analysis, for proposing and analyzing public policies from the viewpoint of the consumer interest; the study of the interplay between consumers and market sectors for the purpose of enhancing consumer welfare within a capitalistic society.

Price-Quality Conflict

The occurrence in the marketplace where business desires to sell products and services at the highest price but at the lowest acceptable quality whereas consumers desire the highest quality goods and services at the lowest price possible.

The Consumer Interest

The securing, protecting, and asserting consumer rights for the purpose of assuring an exchange occurring  in the marketplace reflecting fair value.

Consumer Rights

Rights are the 'just claims' by any consumer that business will conduct itself with the utmost integrity. These claims are: the right to choose freely without undue pressure, to accurate information, to respect the health and safety of the buyer,to be heard, to seek redress, to ensure a healthful environment, to expect convenience, courtesy and responsiveness to consumer problems, and to receive adequate consumer education.

Consumer Movement

The economic, social, and political advancement of consumer rights for the purpose of enhancing consumer welfare in the marketplace; replacing "caveat emptor"(let the buyer beware) with "caveat vendor" (let the seller beware).