Economic Issues for Consumers With Infotrac

by Miller, Roger LeRoy

• ISBN13: 9780534628529
• ISBN10: 0534628524
• Edition: 10th
• Format: Hardcover
• Copyright: 2003-10-22
• Publisher: Cengage Learning

Summary

This book employs an "issues approach" to consumer economics. Each chapter has one or two consumer issues that are highlighted through engaging, real world examples. These real world examples are highly applied aspects of everyday consumer situations.

Table of Contents

Preface
Unit One: THE CONSUMER IN TODAY'S WORLD
An Economic Foundation for Consumer Decisions	1	(24)
Scarcity	2	(2)
Why Scarcity Exists	2	(1)
How We Experience Scarcity	2	(1)
Universal Scarcity	3	(1)
Scarcity and the Government	3	(1)
Scarcity in Foreign Lands	3	(1)
The Necessity of Choice	4	(2)
Choice and Opportunity Cost	4	(1)
The Trade-Offs Facing You	4	(1)
An Implicit Assumption	5	(1)
Markets	5	(1)
Voluntary Exchange in the U.S. Economy	5	(1)
Demand and Supply Analysis---A Brief Introduction	6	(4)
Law of Demand	6	(1)
Law of Supply	6	(1)
Equilibrium Price	7	(1)
The Diverse Consumer: New Demographics Equal New Demand and New Supply	7	(1)
Relative Price	8	(1)
An Important Distinction	8	(1)
The Law of Demand Holds True	8	(2)
Consumer Sovereignty in a Market Economy	10	(1)
The Real World of Imperfect Competition	10	(2)
Examples of Monopoly Power	10	(1)
A Range of Monopoly Power	11	(1)
Role of Government	11	(1)
Americans in an Electronic Market	12	(2)
Growth of the Internet	13	(1)
Consumer Use of the Internet	13	(1)
The Cyber Economy	14	(1)
New Technology---New Responsibilities	14	(1)
Consumer Economics in an Electronic Economy	15	(1)
Confronting Consumer Issues: Being an Ethical Consumer	16	(9)
Cyber Consumer: The Open Directory Project	19	(2)
Chapter Summary	21	(1)
Key Terms	22	(1)
Questions for Thought & Discussion	22	(1)
Things to Do	22	(1)
Internet Resources	23	(1)
Selected Readings	24	(1)
Making Rational Consumer Choices	25	(23)
Decisions, Decisions	26	(1)
Rational Consumer Decision Making	27	(1)
Consider Transaction Costs	27	(1)
Do You Really Need It?	27	(1)
Cost-Benefit Analyses	28	(1)
Values and Rational Decision Making	28	(3)
What Are Values?	29	(1)
Values Clarification	29	(1)
Goals and Values	30	(1)
The Decision-Making Process	31	(3)
Deciding to Act	31	(1)
Identifying Alternatives	31	(1)
Evaluating Alternatives	32	(2)
Committing to a Decision	34	(1)
Evaluating the Results	34	(1)
Pitfalls in Rational Consumer Decision Making	34	(3)
Impulse Buying	34	(1)
Habit Buying	35	(1)
The Fine Print	35	(1)
The Seductiveness of Credit	36	(1)
Conspicuous Consumption	36	(1)
Consumer Close-Up: Making Impulse Purchases on Purpose	36	(1)
Time Management and Rational Decision Making	37	(3)
Different Values, Different Opportunity Costs	37	(1)
Time and Family Values	38	(1)
Breaking Parkinson's Law	38	(1)
Buying and Searching	39	(1)
Confronting Consumer Issues: How to Buy Technology-Based Products	40	(8)
Cyber Consumer: Safe Shopping Online	42	(3)
Chapter Summary	45	(1)
Key Terms	45	(1)
Questions for Thought & Discussion	45	(1)
Things to Do	46	(1)
Internet Resources	46	(1)
Selected Readings	47	(1)
A Flood of Advertising	48	(22)
Costs and Benefits of Advertising	49	(1)
Who Pays?	50	(1)
Brand-Name Advertising	50	(2)
Promoting Brand-Name Loyalty	50	(1)
The Value of Brand Names	51	(1)
The Diverse Consumer: McDonald's Segments Its Message	51	(1)
Benefits of Brand Names to Producers	52	(1)
Other Types of Advertising	52	(2)
Informative Advertising	52	(1)
Comparative and Defensive Advertising	53	(1)
The Ugly Side of Advertising	54	(3)
Deceptive Advertising	54	(1)
What Kinds of Ads Are Deceptive?	54	(1)
Cyber Consumer: Online Advice about Deceptive Advertising	54	(1)
Bait and Switch: The Case of the Obsolete Digital Camera	55	(1)
Other Deceptions	55	(1)
What the FTC Can Do	56	(1)
The Ethical Consumer: Protecting Children (and Their Parents) from Online Abuse	56	(1)
What You Can Do	57	(1)
Advertising and Your Privacy	57	(1)
Your Telemarketing Rights	58	(1)
Privately Prepared Information	59	(4)
Information Online	60	(1)
Consumer Reports and Consumers' Research Magazine	60	(1)
Other Printed Sources of Information	61	(1)
How Much Information Should We Acquire?	61	(2)
Confronting Consumer Issues: Rational Internet Shopping	63	(7)
Chapter Summary	67	(1)
Key Terms	67	(1)
Questions for Thought & Discussion	68	(1)
Things to Do	68	(1)
Internet Resources	68	(1)
Selected Readings	69	(1)
The Many Faces of Fraud	70	(24)
Consumer Products Fraud	71	(8)
Personal and Health-Care Frauds	71	(2)
Cyber Consumer: Online Advice about Health-Care Fraud	73	(1)
Health-Insurance Fraud	74	(1)
The Diverse Consumer: Peddling Weight Loss In Multiple Languages	74	(1)
Fraudulent Repair Services	75	(2)
Land Sales Scams	77	(1)
Pyramid Schemes	78	(1)
Tax Service Frauds	78	(1)
Steps to Take to Protect Yourself	79	(3)
Be an Assertive Consumer	79	(1)
Cooling-Off Periods	80	(1)
Know the Federal Trade Commission's Mail-Order Rules	80	(1)
Hints for Mail-Order and Online Shoppers	81	(1)
Internet Fraud	82	(5)
Advantages of Internet Fraud (from the Scammer's Point of View)	82	(1)
Common Examples of Internet Fraud	83	(2)
Protect Yourself	85	(2)
Confronting Consumer Issues: The Dangers of Identity Theft	87	(7)
Chapter Summary	91	(1)
Key Terms	91	(1)
Questions for Thought & Discussion	91	(1)
Things to Do	92	(1)
Internet Resources	92	(1)
Selected Readings	93	(1)
Protection for the Consumer	94	(31)
Sources of Consumer Protection	95	(5)
Antitrust Laws	95	(3)
Food and Drug Act	98	(1)
A Renewed Interest in the Consumer	98	(1)
The Presidents Speak Up	99	(1)
Consumer Responsibilities	100	(1)
Enforcement of Federal Consumer Protection Laws	101	(3)
Coordination of Consumer Programs	101	(1)
Federal Trade Commission	102	(1)
The Ethical Consumer: How Far Should the Government Go to Protect Children?	102	(1)
Consumer Product Safety Commission	103	(1)
State and Local Governments and Consumer Protection	104	(1)
Using Small Claims Courts	105	(3)
What Are Your Rights and Responsibilities?	105	(1)
Cyber Consumer: Online Advice about Recalled Products	105	(1)
You Have to Watch Out	106	(1)
Does Your Case Make Sense?	106	(1)
How These Courts Work	107	(1)
Preparing for Trial	107	(1)
What Happens in Court	108	(1)
Sources of Private-Sector Consumer Protection	108	(2)
Organizations That Report on Consumer Products	108	(1)
Consumers Union	108	(1)
Consumers' Research, Inc.	109	(1)
Other Product-Testing Groups	109	(1)
Better Business Bureaus	110	(1)
Role of the Media	110	(1)
Private Industry's Self-Regulation	110	(1)
Warranties and Consumer Protection	111	(3)
Magnuson-Moss Warranty Act	111	(1)
Full versus Limited Warranties	112	(1)
Settling Disputes	112	(1)
Implied Warranties	112	(2)
Confronting Consumer Issues: Finding Help for Consumer Problems	114	(11)
Chapter Summary	122	(1)
Key Terms	122	(1)
Questions For Thought & Discussion	123	(1)
Things to Do	123	(1)
Internet Resources	123	(1)
Selected Readings	124	(1)
Unit Two: BUDGETING
The Consumer as a Wage Earner	125	(23)
Investment in Human Capital	126	(3)
Rate of Return for Education	127	(1)
The Changing Job Scene	127	(2)
Occupational Wage Differentials	129	(4)
Wages and Ages	129	(1)
Occupational Choice and Income	130	(1)
Nonmoney Income	131	(1)
Gender and Jobs	131	(1)
Cyber Consumer: Career Guidance Online	131	(1)
Problems in the Workplace	132	(1)
Jobs through the Year 2008	133	(1)
The Problem of Inflation	133	(7)
How Inflation Is Measured	133	(3)
Consumer Close-Up: Equal Athletic Opportunities	136	(1)
Problems with the CPI	137	(1)
Varying Effects of Inflation	138	(1)
Inflation and Consumer Decisions	138	(1)
Real and Money Values	139	(1)
Confronting Consumer Issues: Choosing the Right Career	140	(8)
Chapter Summary	145	(1)
Key Terms	145	(1)
Questions for Thought & Discussion	146	(1)
Things to Do	146	(1)
Internet Resources	146	(1)
Selected Readings	147	(1)
Creating a Living Budget	148	(19)
Consumers Need a Spending Plan	149	(3)
Democratic Decision Making	150	(1)
The Family Council	150	(1)
College and Budgeting	151	(1)
Budget Making, Goals, and Values Clarification	152	(1)
Achieving Life-Span Goals	152	(1)
What Makes You Happy	152	(1)
How Does the Typical Household Allocate Its Income?	153	(1)
Creating a Budget Plan	154	(2)
The Importance of Keeping Records	154	(1)
Constructing a One-Month Budget Worksheet	155	(1)
Developing an Annual Budget Worksheet	155	(1)
Reviewing Your Budget	156	(1)
Fitting It All into a Life-Span Plan	156	(1)
Life-Span Goals Are Not ``Carved in Stone''	156	(1)
It's Better to Face Reality	157	(1)
Budget-Assistance Programs	157	(2)
The Limits of Budget Software	157	(1)
Consumer Credit Counselors	157	(1)
Cyber Consumer: Online Budgeting	157	(2)
Confronting Consumer Issues: Budgeting for Recreation and Leisure	159	(8)
The Diverse Consumer: Going Home	161	(3)
Chapter Summary	164	(1)
Key Terms	164	(1)
Questions for Thought & Discussion	164	(1)
Things to Do	165	(1)
Internet Resources	166	(1)
Selected Readings	166	(1)
Paying for the Government	167	(19)
The Whys and Hows of Taxation	168	(4)
First, a Little Theory	168	(1)
Cyber Consumer: A Tax Watchdog	168	(3)
How Our Progressive Income Tax Evolved	171	(1)
Personal Federal Income Tax	172	(3)
A Complicated Tax System	172	(1)
Taxpayers as Consumers of Government Services	173	(2)
Confronting Consumer Issues: Preparing Your Income Tax Return	175	(11)
Consumer Close-Up: Would You Give a Few Hours?	176	(7)
Chapter Summary	183	(1)
Key Terms	183	(1)
Questions for Thought & Discussion	184	(1)
Things to Do	184	(1)
Internet Resources	184	(1)
Selected Readings	185	(1)
Unit Three: MAKING CONSUMPTION EXPENDITURES
Choosing a Healthful Diet	186	(29)
Choosing the Food We Eat	187	(1)
Government Labeling and Inspection Requirements	188	(6)
Fair Packaging	188	(1)
Food Labeling	189	(2)
USDA Grades	191	(2)
Irradiated Meats	193	(1)
Antibiotics in Our Food	193	(1)
Food Labels and the Consumer	194	(2)
The Diverse Consumer: Genetically Engineered Bananas	194	(2)
Nutrition	196	(3)
Dietary Reference Intakes	196	(1)
Basic Food Groups	197	(2)
Food Additives	199	(4)
Classification of Additives	199	(1)
Direct Additives	200	(1)
Indirect Additives	201	(1)
Cyber Consumer: Online Dietary Guidelines	201	(1)
How Safe Is ``Safe''?	201	(1)
Consumer Confusion	201	(1)
Dietary Supplements	202	(1)
Trade-Offs We Make When We Buy Food	202	(1)
Health, Natural, and Organic Foods	203	(1)
The Growing Trend toward Convenience Food	204	(1)
Why Convenience Foods?	204	(1)
Fast Foods Aren't Necessarily Junk Foods	205	(1)
Getting the Most for Your Food-Shopping Dollar	205	(3)
Are Name-Brand Foods Better?	206	(1)
The Psychology of Selling Food	206	(1)
Unit Pricing	207	(1)
Electronic Price Scanning and the Consumer	207	(1)
Confronting Consumer Issues: Good Health and Weight Control	208	(7)
Chapter Summary	212	(1)
Key Terms	213	(1)
Questions for Thought & Discussion	213	(1)
Things to Do	213	(1)
Internet Resources	214	(1)
Selected Readings	214	(1)
Purchasing Household Products	215	(25)
Clothing, Happiness, and Budget Considerations	216	(2)
Customs	217	(1)
Aesthetic Considerations	217	(1)
Values	217	(1)
Durability versus Price	218	(1)
Indications of Quality	218	(2)
Fabric Content	219	(1)
Tailoring	219	(1)
The Powerful Fashion Industry	220	(1)
What's in a Name?	220	(1)
Government Regulation	221	(1)
Choosing Durable Goods	221	(1)
Cyber Consumer: Shopping for Fashion on the Internet	221	(1)
Consumer Durables as an Investment	222	(1)
Evaluating the Purchase of a Consumer Durable	223	(3)
The Cost Side of the Picture	224	(1)
Benefits	225	(1)
Servicing Your Consumer Durables	226	(2)
Pros and Cons of a Service Contract	226	(1)
The ``Ninety'' Rule	227	(1)
Before You Call a Service Person	227	(1)
The Special Case of Buying Furniture	228	(4)
Consumer Close-Up: Rent-to-Own Agreements	228	(1)
Judging the Quality of Furniture	229	(1)
Choosing Where to Purchase Furniture	230	(1)
Purchasing Furniture over the Internet	230	(1)
What to Do When You Have a Complaint	230	(2)
Confronting Consumer Issues: Saving Money by Saving Energy	232	(8)
Chapter Summary	237	(1)
Key Terms	237	(1)
Questions for Thought & Discussion	237	(1)
Things to Do	238	(1)
Internet Resources	238	(1)
Selected Readings	239	(1)
Satisfying Transportation Needs	240	(28)
We Depend on Cars in Many Ways	241	(2)
Do You Need to Own a Car?	241	(1)
Transportation Alternatives	241	(2)
The Trend toward Safer Automobiles	243	(2)
Safety Requirements	244	(1)
Costs and Benefits of Safety Devices	244	(1)
Safety and Sobriety	244	(1)
The Social Costs of Driving	245	(1)
The Private Costs of Driving	245	(2)
Cyber Consumer: Advocates for Highway and Auto Safety	245	(1)
The Repair Dilemma	246	(1)
The Cost of Depreciation	246	(1)
Getting Good Repairs	247	(1)
Deciding When to Buy	247	(1)
Deciding What You Want	247	(3)
Gathering Information	248	(1)
What Type of Car to Buy?	248	(2)
Getting the Best Deal on a New Car	250	(4)
Buying through a Dealership	250	(1)
The Diverse Consumer: Women Buy Cars, Too	251	(1)
Sales Tactics	252	(1)
Car Shopping on the Internet	253	(1)
Leasing versus Buying	254	(2)
How a Lease Works	254	(1)
Steps to Leasing	255	(1)
Should You Choose a Used Car?	256	(1)
Have a Mechanic Check It Out	256	(1)
Investigate Your Used-Car Alternatives	256	(1)
Final Guidelines for Consumers	257	(1)
Financing That Purchase	258	(1)
Where to Borrow for a Car	258	(1)
What Length of Loan to Take Out	259	(1)
Know Your Lemon Laws	259	(3)
Arbitration Programs	260	(1)
Criticism of Industry Arbitration Panels	261	(1)
Confronting Consumer Issues: Reputable Repairs for Your Car	262	(6)
Chapter Summary	265	(1)
Key Terms	266	(1)
Questions for Thought & Discussion	266	(1)
Things to Do	266	(1)
Internet Resources	267	(1)
Selected Readings	267	(1)
Choosing a Place to Live	268	(28)
Why Are We Willing to Pay So Much?	269	(1)
Renting versus Buying	269	(4)
Advantages of Renting	270	(1)
Advantages of Buying	270	(1)
Tax Benefits of Home Ownership	270	(1)
How Much Can You Afford?	271	(2)
If You Decide to Buy	273	(5)
Looking on the Internet	273	(1)
What Does a Real Estate Agent Do?	274	(1)
For Whom Does a Real Estate Agent Work?	274	(1)
How to Bargain	275	(1)
Before You Sign Anything	276	(2)
Making the Offer	278	(1)
Title Examination and Insurance	278	(1)
Different Types of Homes	279	(1)
Condominiums	279	(1)
Townhouses	279	(1)
Cooperatives	280	(1)
Paying for Your Home	280	(3)
Sources of Mortgages	281	(1)
Comparison Shopping	281	(1)
The Diverse Consumer: Manufactured Housing	281	(1)
Mortgage Talk	282	(1)
Cyber Consumer: Mortgage Calculators on the Internet	282	(1)
Different Kinds of Mortgages	283	(2)
Conventional (Fixed-Rate) Mortgage	283	(1)
Adjustable-Rate Mortgage	283	(1)
Graduated-Payment Mortgage	284	(1)
Rollover Mortgage	284	(1)
VA Mortgages	284	(1)
FHA Mortgages	285	(1)
Creative Financing	285	(1)
Mortgage Repayment Terms	286	(1)
The Fifteen-Year Mortgage	286	(1)
Extra Payments	287	(1)
Biweekly Payments	287	(1)
Closing Costs	287	(2)
Confronting Consumer Issues: Renting a Home	289	(7)
Chapter Summary	293	(1)
Key Terms	294	(1)
Questions for Thought & Discussion	294	(1)
Things to Do	294	(1)
Internet Resources	295	(1)
Selected Readings	295	(1)
Unit Four: FINANCIAL MANAGEMENT
Banks Help Consumers Save and Spend	296	(32)
Why Save at All?	297	(2)
Americans Save Very Little	297	(1)
The First Step Is Often the Hardest One to Take	298	(1)
Make a Saving Plan (and Follow It)	299	(1)
Where Should You Stash Your Cash?	299	(3)
What Are Depository Institutions?	300	(1)
How Banks Work	300	(1)
What Banks Offer Savers	301	(1)
How Banks Help Consumers Save	302	(3)
Day-In-Day-Out Accounts	302	(1)
Money Market Accounts	303	(1)
Sweep Accounts	303	(1)
Time Deposits and Certificates of Deposit	303	(1)
How to Evaluate Differences in Bank Accounts	304	(1)
APYs Make It Easy	304	(1)
Saving by Buying Government Securities	305	(2)
U.S. Savings Bonds	305	(2)
Treasury Securities	307	(1)
How Banks Help Consumers Spend	307	(5)
Demand Deposits	308	(1)
Different Types of Checking Accounts	308	(2)
Selecting the Right Checking Account	310	(1)
Cyber Consumer: Learning about CMAs	310	(1)
Other Types of Checks You May Use	311	(1)
How to Avoid Checking Problems	312	(5)
Writing Checks	312	(1)
Endorsing a Check	313	(1)
Stale Checks	313	(1)
Stop-Payment Orders	313	(1)
Deposit Holds	314	(1)
Avoiding Bounced Checks	315	(1)
Reconciling Your Bank Balance	315	(2)
How to Settle a Complaint with a Bank	317	(1)
Confronting Consumer Issues: How to Use Electronic Banking	318	(10)
Consumer Close-Up: How Much Is Convenience Worth?	320	(2)
The Ethical Consumer: Financial Privacy in Cyberspace	322	(2)
Chapter Summary	324	(1)
Key Terms	325	(1)
Questions for Thought & Discussion	325	(1)
Things to Do	326	(1)
Internet Resources	326	(1)
Selected Readings	327	(1)
Using Credit Responsibly	328	(31)
Sources of Credit	329	(2)
Sources of Consumer Loans	329	(1)
Sources of Consumer Sales Credit	330	(1)
Credit Online	331	(1)
Why Borrow?	331	(1)
Pay for Future Services with Future Earnings	331	(1)
Other Reasons to Borrow	332	(1)
Saving versus Credit Buying	332	(2)
Costs and Benefits of Borrowing to Consume Now	333	(1)
Inflationary Premiums	333	(1)
Inflation May Make It Easier to Repay Loans	333	(1)
What It Costs to Borrow	334	(1)
Interest Rate Determination	334	(1)
Finance Charges	334	(1)
Consumer Credit Legislation	335	(4)
Truth in Lending	335	(2)
Regulation of Revolving Credit	337	(1)
The Ethical Consumer: Getting in over Your Head on Purpose?	337	(1)
Two-Cycle Method	338	(1)
Know Which Method Will Be Used	338	(1)
Equal Credit Opportunity	339	(1)
Fair Credit Billing Act	340	(1)
Fair Credit Reporting Act	340	(2)
Gaining Access to Your Credit File	341	(1)
Credit Scoring	341	(1)
Fair Debt Collection Practices Act	342	(1)
Subprime Lending	343	(1)
The Home Ownership and Equity Protection Act	343	(1)
The Real Estate Settlement Procedures Act	343	(1)
Predatory Lending	344	(1)
Flipping	344	(1)
Packing	344	(1)
Stripping	344	(1)
Federal Actions to Stop Predatory Lending	344	(1)
Going into Personal Bankruptcy	345	(3)
Why So Many Bankruptcies?	345	(1)
Filing for Chapter 7 Bankruptcy	345	(1)
Chapter 13 Plans	346	(1)
Cyber Consumer: Bankruptcy Information Online	346	(2)
Confronting Consumer Issues: Making Credit Decisions	348	(11)
Chapter Summary	356	(1)
Key Terms	357	(1)
Questions for Thought & Discussion	357	(1)
Things to Do	357	(1)
Internet Resources	358	(1)
Selected Readings	358	(1)
Investing for Your Future	359	(26)
Some Facts about the Stock Market	360	(3)
Common Stock	361	(1)
Preferred Stock	361	(1)
Corporate Bonds	361	(1)
Capital Gains and Losses	362	(1)
What Affects the Price of a Stock?	362	(1)
Making Money in the Stock Market	363	(3)
Should You Employ a Full-Service Broker?	363	(2)
Investing Online	365	(1)
What about Investment Advisers?	366	(1)
Mutual Funds	366	(3)
The Two Types of Mutual Funds	366	(1)
Money Market Mutual Funds	367	(1)
Cyber Consumer: Checking Out Mutual Funds Online	368	(1)
Is There No Way to Get Rich Quick?	369	(1)
Watch for Those Sure-Fire Schemes	370	(1)
Pensions and Retirement Funds	370	(5)
Individual Retirement Accounts	370	(1)
The Ethical Consumer: Business Leaders Should Be Ethical, Too	371	(1)
Roth IRAs	372	(1)
Investing through 401(k)s	372	(1)
Keogh Plans	373	(2)
Confronting Consumer Issues: Making Personal Investment Plans	375	(10)
Chapter Summary	382	(1)
Key Terms	382	(1)
Questions for Thought & Discussion	382	(1)
Things to Do	383	(1)
Internet Resources	383	(1)
Selected Readings	384	(1)
Unit Five: RISK MANAGEMENT
The Health-Care Dilemma	385	(31)
The Foundation of Insurance---Risk Pooling	386	(1)
Our Need for Medical Insurance	386	(1)
The Government Steps In	387	(1)
The Insurance Framework	387	(2)
The Supply of Medical Care	389	(2)
Restricted Entry	389	(1)
A Surplus of Physicians?	390	(1)
Drug Regulation and Its Costs	391	(1)
High-Tech Medicine	391	(1)
The Malpractice System	392	(1)
Related Costs of Malpractice Claims	392	(1)
A Possible Solution	393	(1)
Who Can Afford the Medical Bill?	393	(1)
Health-Care Dilemma---or Crisis?	394	(1)
Consumer Close-Up: Should You Have a Right to Know?	394	(1)
Tackling Waste and Inefficiency	395	(5)
Health Maintenance Organizations	395	(1)
Preferred Provider Organizations	396	(1)
Cost-Management Systems	397	(2)
Controlling Medicare Costs	399	(1)
Universal Health-Insurance Coverage	400	(6)
Potential Benefits of Universal Health-Insurance Coverage	400	(1)
The Costs of Universal Medical Coverage	401	(1)
Proposed Systems	402	(1)
Health Care as a Consumer Product	403	(1)
Health Care as a Constitutional Right	404	(1)
The Ethical Consumer: What Do You Do When Your Insurer Says No?	404	(1)
Cyber Consumer: Finding Medical Insurance Online	405	(1)
Confronting Consumer Issues: Purchasing Medical Care	406	(10)
Chapter Summary	413	(1)
Key Terms	414	(1)
Questions for Thought & Discussion	414	(1)
Things to Do	414	(1)
Internet Resources	415	(1)
Selected Readings	415	(1)
Insuring Your Home and Your Automobile	416	(21)
Insuring Your Home	417	(5)
Types of Homeowners' Coverage	417	(3)
How Much Insurance Should You Have?	420	(1)
Homeowners' Warranties	421	(1)
Cyber Consumer: Searching for Home Protection Online	421	(1)
What about Renters' Insurance?	422	(1)
Automobile Insurance	422	(8)
Liability Insurance	422	(1)
Medical Payment Insurance	423	(1)
Collision Insurance	424	(1)
Comprehensive Insurance	424	(1)
Uninsured Motorist Insurance	424	(1)
Accidental Death Benefits	424	(1)
What Determines the Price of Auto Insurance?	424	(2)
No-Fault Insurance, Pros and Cons	426	(1)
How to Shop for Automobile Insurance	426	(1)
How to Lower Your Insurance Rates	427	(1)
Consumer Close-Up: Who Should Fix Your Car?	427	(1)
The Special Problem of Insurance for Rental Cars	428	(1)
When You Are Refused Insurance	429	(1)
Confronting Consumer Issues: Choosing a Lawyer	430	(7)
Chapter Summary	434	(1)
Key Terms	434	(1)
Questions for Thought & Discussion	434	(1)
Things to Do	435	(1)
Internet Resources	435	(1)
Selected Readings	436	(1)
Life Insurance and Social Security	437	(25)
Life Insurance and Our Need for Security	438	(1)
Premature Deaths	438	(1)
History of Life Insurance	438	(1)
The Basic Types of Life Insurance	439	(6)
Term Insurance	440	(1)
Cyber Consumer: Searching for Life-Insurance Protection Online	440	(1)
Whole Life Insurance	441	(4)
Universal Life Insurance	445	(1)
Some Specialized Insurance Policies	445	(2)
Combination Plans	446	(1)
Modified Life Policies	446	(1)
Adjustable Life Insurance	446	(1)
Other Types of Life-Insurance Policies	447	(1)
Reading a Life-Insurance Contract	447	(2)
Consumer Close-Up: Honesty Is the Best Policy	448	(1)
Choosing a Sound Life-Insurance Company	449	(1)
Involuntary Benefit Programs---The Case of Social Security	449	(5)
Basic Benefits of Social Security	451	(1)
How Social Security Is Paid	451	(1)
Working While Receiving Social Security Benefits	452	(1)
Problems with Social Security	453	(1)
There Will Always Be a Problem with Social Security	453	(1)
Confronting Consumer Issues: How to Meet Your Insurance Needs	454	(8)
Chapter Summary	459	(1)
Key Terms	459	(1)
Questions for Thought & Discussion	459	(1)
Things to Do	460	(1)
Internet Resources	460	(1)
Selected Readings	461	(1)
Unit Six: LESSONS YOU HAVE LEARNED
Looking to the Future	462	(31)
What the Future Holds	463	(1)
The Future of Technology	463	(2)
New Technologies---New Products	463	(1)
New Technologies---New Laws	464	(1)
Globalization of the World Economy	465	(5)
The Growth of U.S. Trade	465	(1)
Benefits of Trade	466	(1)
Costs of Trade	467	(1)
Being a Responsible Consumer in the Global Economy	468	(1)
The Diverse Consumer: Trade with Chile	469	(1)
The Technological Assault on Privacy	470	(5)
Privacy in the Workplace	470	(1)
Privacy and Your Health	471	(1)
Consumer Close-Up: When Your Boss Reads Your E-Mail	472	(1)
Privacy and the Government	473	(2)
Privacy in Your Home	475	(1)
Ethical Choices and the Cost of Medical Technology	475	(3)
The Growing List of Medical Procedures and Treatments	475	(1)
The Costs of Medical Technology	476	(1)
Who Should Receive Medical Care?	477	(1)
New Technologies---New Ethical Dilemmas	478	(1)
Protecting the Environment Is Everyone's Responsibility	478	(7)
The Scope of the Problem	479	(1)
The Economics of Pollution	479	(1)
Who Pays the Costs of Pollution Control?	479	(2)
Environmental Legislation	481	(1)
State and Local Government Efforts	482	(1)
Environmental Protection Is a Global Concern	483	(2)
Confronting Consumer Issues: Living a Green Life	485	(8)
Chapter Summary	489	(1)
Key Terms	490	(1)
Questions for Thought & Discussion	490	(1)
Things to Do	490	(1)
Internet Resources	491	(1)
Selected Readings	491	(2)
Glossary	493	(6)
Index	499