What Is Consumerism? Consumerism is the idea that increasing the consumption of goods and services purchased in the market is always a desirable goal, and that a person’s well-being and happiness depend fundamentally on obtaining consumer goods and material possessions. In the economics sense, consumerism is related to the predominantly Keynesian idea that consumer spending
What Is Consumer Liability? Consumer liability places accountability on consumers to prevent negligence in their consumption activities. Policies that determine the level of consumer liability are written into companies’ contracts and are a way of protecting them from any liability as a result of potential consumer negligence. Key Takeaways Consumer liabilities are contractual obligations that
What Is the Consumer Price Index (CPI)? The Consumer Price Index (CPI) measures the monthly change in prices paid by U.S. consumers. The Bureau of Labor Statistics (BLS) calculates the CPI as a weighted average of prices for a basket of goods and services representative of aggregate U.S. consumer spending. The CPI is one of
What Is the Consumer Product Safety Commission (CPSC)? Consumer Product Safety Commission (CPSC) is a U.S. government agency that protects the American public from products that may present safety hazards. This independent regulatory body focuses on consumer items that pose an unreasonable risk of fire, chemical exposure, electrical malfunction, or mechanical failure. Products that expose
What Are Consumer Staples? The term consumer staples refers to a set of essential products used by consumers. This category includes things like foods and beverages, household goods, and hygiene products as well as alcohol and tobacco. These goods are those products that people are unable—or unwilling—to cut out of their budgets regardless of their
What Is Consumer Theory? Consumer theory is the study of how people decide to spend their money based on their individual preferences and budget constraints. A branch of microeconomics, consumer theory shows how individuals make choices subject to how much income they have available to spend and the prices of goods and services. Understanding how consumers
What Is the Consumption Function? The term consumption function refers to an economic formula that represents the functional relationship between total consumption and gross national income (GNI). The consumption function was introduced by British economist John Maynard Keynes, who argued the function could be used to track and predict total aggregate consumption expenditures. It is a
Tomatoes and peppers drop their blossoms when environmentally stressed. But when conditions are less extreme, a plant that has dropped its blossoms will flower again, set fruit, and be productive. Temperatures too cold or too hot; weather too dry or too wet; soil too nutrient-rich or deficient are the most common reasons tomatoes and peppers
Vegetable seeds and seedlings require minimum soil temperatures to germinate and grow. Seeds and seedlings require optimal soil temperatures to thrive. Soil temperature triggers not only seed germination but is an important factor in soil chemistry. Soil chemistry includes the release (dissolution) of mineral nutrients in soil moisture. Mineral nutrients are essential for vegetable plant
Tomato seeds Different vegetables have different germination requirements. It’s important to know the germination requirements of the seeds you are planting to ensure success. Viable seeds are alive; they contain an embryo, stored food, and are surrounded by a seed coat. A seed will germinate or begin to grow when soil moisture, temperature, and oxygen
