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Ch 118: Resource Planning & Consumer Economics

About This Chapter

Pay attention to these lessons to reestablish how resource planning and consumer economics work. Get a refresher of this topic as you look at the lessons to recall details about the different types of resources and how consumers use them.

Resource Planning & Consumer Economics - Chapter Summary

Analyze the materials in these lessons to get a better handle on the topic of resource planning and consumer economics. See how well you know the differences between consumer goods and capital resources. Within this chapter, you can find all the important details about the following:

  • How the resource-allocator works
  • Flow of goods, resources, and services in the economy
  • How marketing influences buying decisions and behavior
  • The pros and cons of differentiation and positioning in marketing
  • Examples of advertising and its level of effectiveness
  • Legal statutes that protect consumers
  • Additional consumer protection through government regulation agencies

As this chapter is meant as a review, what better way to measure your progress than to answer our quizzes and chapter exam? There is a quiz available for every one of our lessons. You can select the quiz tab before or after you watch the video lesson. Questions on the quizzes offer several possible answers to choose from. After you complete the quiz, an explanation key will pop up, allowing you to compare your answers with the correct answers. You can find the chapter exam on the quiz tab of the final lesson within the chapter, and the questions here are also multiple choice.

There are several benefits to taking our quizzes and chapter exam. Challenging yourself with our questions will help you study. Your answers can also let you pinpoint the exact areas where you need more help. If you score low on any of our quizzes, take a step back and re-examine the lesson. Make sure you understand the materials and then retake the quiz. By using our quizzes and exams to keep on top of how much information you are retaining, you will be that much closer to doing well on your big test.

9 Lessons in Chapter 118: Resource Planning & Consumer Economics
Test your knowledge with a 30-question chapter practice test
Resource-Allocator: Definition & Explanation

1. Resource-Allocator: Definition & Explanation

Learn about the resource allocator managerial role and explore examples of how managers work in this role in everyday situations. Then, test your understanding with a short quiz.

What Are Capital Resources? - Definition & Examples

2. What Are Capital Resources? - Definition & Examples

The manufacturing process varies widely for businesses creating all types of goods, though all utilize resources. This lesson explains what capital resources are, how they are essential to the production of goods, and the difference between capital resources and raw materials.

Circular Flow of Economic Activity: The Flow of Goods, Services & Resources

3. Circular Flow of Economic Activity: The Flow of Goods, Services & Resources

Learn about the simple model used to describe where money goes and what it is exchanged for in a market economy. The circular flow model of economic activity shows you the basic relationships between households, firms and the government.

Consumer Goods: Definition, Types & Examples

4. Consumer Goods: Definition, Types & Examples

We all purchase and consume goods every day. Most of those goods satisfy a need or want and are called consumer goods. They are different than those goods that are used as input to produce other goods. In this lesson, you will learn about types of consumer goods and take a quiz.

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.

Positioning and Differentiation in Consumer Marketing

6. Positioning and Differentiation in Consumer Marketing

Consumers' perceptions of products and brands are influenced by the marketing and promotional plan. Marketers must identify the key characteristics that are important to the target market and then ensure that their product stands out in the minds of the consumers as the best choice for purchase.

What is Advertising? - Definition & Examples

7. What is Advertising? - Definition & Examples

The greatest product or service in the world won't make money unless consumers know it exists. In this lesson, you'll learn the definition of advertising, common advertising media, and read some examples of effective advertising.

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

8. 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.

Government Regulation Agencies for Consumer Protection

9. Government Regulation Agencies for Consumer Protection

You will learn about the government regulatory agencies that protect consumers. We'll discuss what the acronyms CFPB, CPSC, FTC, FDA, NHTSA, and SEC stand for and their organizations' responsibilities.

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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