Define the insatiability of human wants.

Define the relationship between the reference groups and consumer behavior.

Describe your view on "simple living". What are the potential economic effects of this movement?

Differentiate among needs, wants, and demand.

Discuss Maslow's Hierarchy of Needs.

Distinguish among the terms demand, desire, and utility. Define elastic and inelastic demands and give examples.

Estimate what percentage of your income you pay in local, state, and federal taxes. Now look at your paycheck and determine if your estimates were correct.

Explain how the principle of diminishing returns affects the way an individual spends money.

Explain why the desire for the goods and services that money will buy increases more rapidly than the ability to increase income. How do personal-psychological wants to affect consuming activities?

Identify the four principles of consumption and give implications of each.

Name some possible advantages and adverse effects of restrictive tariffs and quotas.

"What are some of the historical costs and benefits resulting from the implementation of NAFTA?

What problems may develop within the United States because of disparities in family income within the country and around the world? Discuss the reasons.