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Flashcards - Praxis: Consumer Economics

Flashcards - Praxis: Consumer Economics
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Interest
Interest is payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum
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privacy policy
A privacy policy is a statement or a legal document that discloses some or all of the ways a party gathers, uses, discloses, and manages a customer or client's data
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Fraud
In law, fraud is deliberate deception to secure unfair or unlawful gain, or to deprive a victim of a legal right
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negligence
Negligence is a failure to exercise the care that a reasonably prudent person would exercise in like circumstances
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9 cards in set
Front
Back
negligence
Negligence is a failure to exercise the care that a reasonably prudent person would exercise in like circumstances
Fraud
In law, fraud is deliberate deception to secure unfair or unlawful gain, or to deprive a victim of a legal right
privacy policy
A privacy policy is a statement or a legal document that discloses some or all of the ways a party gathers, uses, discloses, and manages a customer or client's data
Interest
Interest is payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum
Disposable income
Disposable income is total personal income minus personal current taxes
Saving
Saving is income not spent, or deferred consumption
strict liability
In law, strict liability is a standard for liability which may exist in either a criminal or civil context
Consumer protection
Consumer protection is a group of laws and organizations designed to ensure the rights of consumers as well as fair trade, competition and accurate information in the marketplace
consumer adoption process
Consumer adoption of technological innovations is the process consumers use to determine whether or not to adopt an innovation

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