Unit 2 – Individual Project The Psychology of Economic Behavior: CB465 (Steven Guy)

In the Unit 1 Individual Project, you discussed economic research related to household decisions, including fluctuations in real gross domestic product (GDP), inflation, deflation, and other critical factors related to consumer behavior within a family. Specifically, you discussed the 4-stage business cycle, which includes expansion, recession, depression and recovery. For this assignment, you will add the element of consumer protection (e.g., consumer responsibilities, redress, law, and pro-consumer groups) and how this relates to marketing and consumer psychology.

To complete this assignment, discuss consumer protection issues, such as consumer responsibilities, redress, law, pro-consumer groups, and so forth, and how these concepts relate to the consumer-in-control movement. Include the following in your APA paper of 2–3 pages:

Discuss why identity theft is the number one fraud in America.
Include a detailed explanation of your responsibilities as a consumer, in addition to your rights as a consumer after purchasing a product.
List and explain the purpose and function of at least 1 government consumer protection group and 1 nongovernment pro-consumer protection group.
Are these groups effective? Why or why not?
In addition, please choose 2 of the following legal definitions, and incorporate these into your discussion of consumer protection and consumer responsibility:

Arbitration
Conciliation
Constitutional law
Consumer satisfaction
Implied warranty of fitness
Implied warranty of merchantability
Criminal or civil cases
Mediation
Ombudsperson
Reasonable person
Right to redress
Small claims court
Society of consumer
Statutory laws
Third-party complaint-handling services
Uniform Commercial Code (UCC)
Written warranties
Be sure to use scholarly resources and reference them in APA style.

Please submit your assignment.

For assistance with your assignment, please use your textbook and all course resources.

We grade Discussion Boards and Individual Projects using three project criteria: Task Requirements, Demonstration and Application of Knowledge, and Academic Writing and Format. We score each project criterion using four performance values: Unsatisfactory, Developing, Effective, and Proficient. Please see the following tables for the details.

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