The Real Price of a Commodity

http://www.consumerreports.org/cro/magazine/2012/10/protect-yourself-from-the-latest-scams/index.htm<a

The following reading I feel is relevant to this week’s Chapter Four readings on the Fallacy of Composition. As consumers we are almost always looking for a great deal when it comes to major purchases. I felt this article gave great advice on how fraud and the lack of consumer awareness, when it comes to major purchases allow everyday citizens to get taken advantage off. The actual reading that stood out to me was the solar-energy scam on how making a big up-front investment for the future is sometimes not what we expect it to be.

I believe this article captures the truth and positive ethical awareness to consumers that actually do their research when it comes to expensive or long-term purchases. I believe that we are swayed by others in almost everything we do, from where to eat to what type of casket we should be buried in. This reading does show how citizens fall, for certain scams easily while neglecting total costs just by being persuaded to pay a little upfront.

This content I believe is very important to those who are swayed easily or have a hard time making good financial decisions. I also believe that we should have stricter laws when it comes to entities taking advantage of consumers with sneaky tactics like giving someone a low monthly payment up front and gouging them with high interest and a huge total cost when they leave. Even though we have come a long way from the years of being ripped off and not being able to do much about it, we still need to as much as we can to make sure that we don't fall in the world of scam artist. Even though it's hard to avoid due to so much media manipulation I feel that, if we do our homework and research we can avoid the salesman's fallacy.

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