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PF 2.02 Vocabulary

AB
State Attorney GeneralThis state office assists consumers who have been victimized by fraud
Better Business BureauA local consumer protection agency
National Consumers LeagueHas a website where incidents of consumer fraud may be reported
Federal Trade CommissionA government agency to assist consumers who've been victims of fraud
mediaMeans of communicating - e.g. word of mouth, telephone, texting, emails, etc.
identify theftStealing one's personal information to commit theft or fraud
winning bid at auctionsA scam artist may notify you that you have the winning bid, ask for money, but never ship the item purchases
conditionA stipulation or prerequisite
lotteryPrizes awarded by chance after purchase of a ticket; very small chance of winning
sweepstakes letterStates that one has won a valuable prize, but must pay a fee to claim it
vague offersOffers that withhold certain details, expecting one to pay up front to get them
high-pressure sales approachUsing extreme tactics to persuade a consumer to buy
chain letterA letter asking one to send several letters with money in order to, supposedly, receive money in the mail yourself
pyramidA scam that usually involves a "get rich quick" chain letter, sending money to others in order to, supposedly, receive money in the mail yourself.
lie/lyingTo tell an untruth/the habit or practice of telling untruths
illegalAgainst the law
scam/schemeA plot designed to trick someone: a deception
Failure to be informedNot reading labels, fine print, contracts, sales offers, etc.
Failure to protectNot securing personal information and property
Failure to planNot making shopping lists, spending plans, doing comparison shopping, etc.


Business Teacher
West Johnston High School

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