Briefly describe the history of consumerism in the United States

What will be an ideal response?

Legislation to protect consumers emerged in 1872 when Congress enacted the Criminal Fraud Statute to protect consumers against corporate abuses. In 1887, Congress established the Interstate Commerce Commission to curb freewheeling railroad tycoons. Upton Sinclair's novel The Jungle revealed poor working conditions in the meatpacking industry, which helped prompt federal meat inspection standards, the Food and Drug Act and the Trade Commission Act. The Food, Drug and Cosmetic Act protected consumers from abuses of manufacturers, advertisers and retailers of well-known brands. Ralph Nader's 1965 book, Unsafe at Any Speed, talked about the GM Corvair as a "death trap." In the early 1960s, President Kennedy proposed that consumers have their own bill of rights. Since then, additional organizations–for example, the Consumer Financial Protection Bureau, which was created in 2011 to help make consumer financial products more fair and transparent–have been initiated to help protect consumers.

Business

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The inventory management approach that attempts to minimize, if not eliminate, carrying and stockout costs is

A) materials requirements planning. B) economic order quantity. C) just-in-time inventory. D) evaluated receipt settlement.

Business

Brand ________ is the differential effect that knowing the brand name has on customer response to the product and its marketing

A) differentiation B) knowledge C) equity D) personality E) relevance

Business