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Your Role as a Consumer Objective: Analyze your role as a consumer in an economic system
Consumer <ul><li>Any person or group that buys or uses goods and services to satisfy personal needs and wants </li></ul>
Income <ul><li>Disposable Income- is money left over after taxes are paid </li></ul><ul><li>Discretionary Income- is money...
Consumer Choice <ul><li>There are three parts to making a choice </li></ul><ul><li>Scarce Resources- Income and Time will ...
Gathering Information <ul><li>Its always best to make an informed decision </li></ul><ul><li>You can use the Internet to g...
Gathering Information <ul><li>Deceptive advertising- is the use of false or misleading information </li></ul><ul><li>Bait ...
Comparison Shopping <ul><li>Is when you compare items and prices between stores </li></ul><ul><li>Don’t forget to compare ...
Consumerism <ul><li>Your basic rights include the right to safe products, to be informed, right to choose, right to be hea...
Review <ul><li>What is a consumer? </li></ul><ul><li>Ans. Any person or group that buys or uses goods and services to sati...
Review <ul><li>Name three consumer rights. </li></ul><ul><li>Ans. right to safe products, to be informed, right to choose,...
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3 Your Role As A Consumer

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Transcript of "3 Your Role As A Consumer"

  1. 1. Your Role as a Consumer Objective: Analyze your role as a consumer in an economic system
  2. 2. Consumer <ul><li>Any person or group that buys or uses goods and services to satisfy personal needs and wants </li></ul>
  3. 3. Income <ul><li>Disposable Income- is money left over after taxes are paid </li></ul><ul><li>Discretionary Income- is money left over after you pay your bills </li></ul>
  4. 4. Consumer Choice <ul><li>There are three parts to making a choice </li></ul><ul><li>Scarce Resources- Income and Time will affect your decision </li></ul><ul><li>Opportunity Cost- The value of the thing you gave up can include the time you spent shopping </li></ul><ul><li>Rational Choice- choosing the item with the best value for you </li></ul>
  5. 5. Gathering Information <ul><li>Its always best to make an informed decision </li></ul><ul><li>You can use the Internet to gather information about a product </li></ul><ul><li>Competitive Advertising- is advertising designed to persuade you </li></ul><ul><li>Informative Advertising- High lights the pros and cons of a product. It informs the consumer about what the product can do </li></ul>
  6. 6. Gathering Information <ul><li>Deceptive advertising- is the use of false or misleading information </li></ul><ul><li>Bait and Switch- an item is advertised at a really low price, when the consumer comes to the store it is no longer available and the sales person points out a higher priced one </li></ul>
  7. 7. Comparison Shopping <ul><li>Is when you compare items and prices between stores </li></ul><ul><li>Don’t forget to compare warranties </li></ul><ul><li>Brand Name verse Generic- Sometimes the only thing you are paying for is the name </li></ul>
  8. 8. Consumerism <ul><li>Your basic rights include the right to safe products, to be informed, right to choose, right to be heard, and right to redress </li></ul><ul><li>Your responsibilities </li></ul><ul><li>Report the problem immediately, explain the problem and a fair solution, keep your receipts and other paper work, give the company time to resolve you r problem </li></ul>
  9. 9. Review <ul><li>What is a consumer? </li></ul><ul><li>Ans. Any person or group that buys or uses goods and services to satisfy personal needs and wants </li></ul><ul><li>What is the difference between disposable and discretionary income? </li></ul><ul><li>Ans. Disposable is money left over after taxes/ discretionary is money left over after bills </li></ul>
  10. 10. Review <ul><li>Name three consumer rights. </li></ul><ul><li>Ans. right to safe products, to be informed, right to choose, right to be heard, and right to redress </li></ul><ul><li>What is scarcity? </li></ul><ul><li>Ans. Scarcity is the condition of not being able to have all the goods and services you want </li></ul><ul><li>What is opportunity cost? </li></ul><ul><li>Ans. is the value of the thing you gave up </li></ul>

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