Ch 65: NMTA: Consumer Economics

About This Chapter

In your studies for the NMTA Middle Grades Social Science exam, use this chapter to review the concepts of product liability, the impact of e-commerce, buying behavior and marketing.

NMTA: Consumer Economics - Chapter Summary

With this chapter, refresh your understanding of consumer economics and the laws that protect the rights of consumers. Watch this series of engaging lesson videos to review commerce and the effects e-commerce and m-commerce on consumer rights. These lesson videos are taught by expert instructors, who help you improve your understanding of:

  • Product liability and defective product liability
  • Laws that protect the rights of consumers
  • Effect of e-commerce and m-commerce on consumer rights
  • Buying behavior and marketing
  • The adopting of new products by consumers

These lesson videos can be watched from your mobile device, so you can study even when you're not at home. If you would like an alternative review of the material, you can read over the written lesson transcripts. In addition to these lessons, complete the assessment quizzes to test your knowledge about consumer economics.

NMTA: Consumer Economics Objectives

The NMTA Middle Grades Social Science exam is part of the certification process for middle school social studies teachers in the state of New Mexico. This exam is composed of 150 computer-administered multiple-choice questions. On test day, you will need to answer these questions in a three-hour testing session. Twelve percent of the material on the exam covers the Economics content domain. This chapter helps you review consumer economics and the laws that protect you as a consumer to prepare you for related questions within this content domain.

6 Lessons in Chapter 65: NMTA: Consumer Economics
Test your knowledge with a 30-question chapter practice test
What Is Product Liability? - Definition & Laws

1. What Is Product Liability? - Definition & Laws

Businesses are held responsible when their products are defective, known as product liability. Liability can be based on one or more of three theories: Breach of warranty, negligence, and strict liability. This lesson explains these three theories.

Defective Products Liability

2. Defective Products Liability

Businesses are held responsible when their products are defective. There are three types of possible product liability defects. This lesson explains the three possible types of defects for which businesses can be liable.

What Is Consumer Protection? - Product Liability, Laws & Rights

3. What Is Consumer Protection? - Product Liability, Laws & Rights

Consumer protection refers to the laws and other forms of government regulation designed to protect consumers. One form of consumer protection is product liability. This lesson explains consumer protection and product liability.

Impact of e-Commerce and m-Commerce on Consumer Privacy and Fraud

4. Impact of e-Commerce and m-Commerce on Consumer Privacy and Fraud

There are a number of challenges in the world of e-commerce and m-commerce stemming from the ease of information exchange over the Internet. The issues discussed in this lesson include consumer privacy and fraud.

Buying Behavior and Marketing: Types of Consumer Buying Decisions

5. Buying Behavior and Marketing: Types of Consumer Buying Decisions

Marketers must consider how consumers decide to buy their product. Consumers use nominal, limited, and extended decision making. Watch this video to learn more about the different types of consumer decisions.

How a New Product is Adopted by Consumers

6. How a New Product is Adopted by Consumers

In this lesson, you will learn the five stages consumers go through to determine whether or not to adopt a product that is new to the marketplace. You will also learn why it is important for companies introducing new products to understand the adoption process their customers use.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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Other Chapters

Other chapters within the NMTA Middle Grades Social Science (202): Practice & Study Guide course

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