Name: Mambiar, Rebekah C.

Date: August 2, 2014

Section: II-1 HC Assignment number: 4
Area of topic: Trade, Economic Ideologies
Specific topic: Consumption and Consumerism


Consumption
o The utilization of economic goods in the satisfaction of wants or in the process of
production resulting chiefly in their destruction, deterioration, or
transformation.(Merriam-Webster)
o The using up of goods and services having an exchangeable value.
o Consumption is an act that people engage in;
Consumerism: various concepts
o Consumerism is understood to be a characteristic of society, and a powerful ideology that
frames the world view, values, relationships, identities, and behavior of those who live in
a society of consumers.
o The concept that consumers should be informed decision makers in the marketplace.
Practices such as product testing make consumers informed.
o The concept that the marketplace itself is responsible for ensuring social justice through
fair economic practices. Consumer protection policies and laws compel manufacturers to
make products safe.
o The field of studying, regulating, or interacting with the marketplace. The consumer
movement is the social movement which refers to all actions and all entities within the
marketplace which give consideration to the consumer.
o High level of consumption; the selfish and frivolous collecting of products, or economic
materialism. In protest to this some people promote "anti-consumerism" and advocacy
for simple living.
o A force from the marketplace which destroys individuality and harms society. It is related
to globalization and in protest to this some people promote the "anti-globalization
movement".
o Consumerism takes the act of consumption and turns it into the defining act of our role as
social beings, rather than one expression of that role.

References:

Consumption (Economics). Retrieved from http://en.wikipedia.org/wiki/Consumption_(economics)
Consumerism. Retrieved from http://en.wikipedia.org/wiki/Consumerism
Differences between Consume and Consumerism. Retrieved from
http://truthsgrief.blogspot.com/2009/03/differences-between-consume-and.html
Cole, N. Consumerism: A Sociological Definition of Consumerism. Retrieved from
http://sociology.about.com/od/C_Index/fl/Consumerism.htm
Alexander, J. (2010). The Problem isnt consumptionits consumerism http://www.conservation-
economy.org/the-problem-isnt-consumption-its-consumerism/
Shah, A. (2005). Effects of Consumerism. Retrieve from
http://www.globalissues.org/article/238/effects-of-consumerism