conspicuous consumption: Thorstein Veblen's term for
the tendency to buy goods and services to impress others.
constant dollars: dollars that reflect changes in
purchasing power from a base year.
consumer co-ops: retail businesses owned by members
who share in the profits and/or purchase goods and services at
lower cost.
consumer credit: an agreement whereby a consumer is
provided cash, goods or services now with payment spread
into the future.
consumer price index (CPI): compares present prices of
commonly purchased goods and services to the prices of simi-
lar goods and services in a base year. Measures price changes
of common goods and services, including such things as
housing and food. What you quote when you're trying to
convince your boss you need a raise to keep up with inflation.
consumer: anyone who uses goods and/or services.
contraction: period in the business cycle after a boom
when businesses begin to reduce their spending levels.
