CONSUMERSAnyone who uses goods or services

© PDST Home Economics

Goods and Services

Goods: Products that are bought

e.g. food, clothes

Services: Doing work for another

usually involving payment

e.g.hairdressing, car repair

Needs and Wants

Needs: Things we cannot do without

e.g. food, clothing, shelter, warmth

Want: Things we’d like to have but can live without

e.g. MP3 players, holidays, mobile phones

Some wants are considered to be luxuries

Needs and wants

Needs and wants change depending on a number of things:

Age

Culture

Circumstances

A priority is something that is very important to you

Consumer Rights The right to truthful information The right to choose The right to value for money The right to safety The right to redress

A monopoly happens when there is only one supplier of a product or service i.e. there is no competition

Consumer Responsibilities

To know your rights

To know consumer law

To inform yourself about goods and services so you can choose wisely

To understand the balance between cost and quality

To read labels and follow manufacturers instructions

To complain about faulty goods and services

To avoid wasting resources and protect environment

Resources

Anything that is used in doing a task e.g.

Time

Money

Skills

Information

Equipment

Materials

Consumer Information

Consumer information:

any knowledge that helps a consumer to buy wisely

Consumer education:

using this knowledge to make informed decisions when

purchasing goods and services

Why do consumers need to be informed?

So they make wise buying decisions

To get value for money

To understand consumer law

So they know how to get redress

Sources of consumer information Consumer Association of Ireland and

National Consumer Agency

Advertising

Showrooms & exhibitions

Salespeople

TV/radio consumer programmes

Internet consumer sites

Manufacturer’s leaflets

Other consumers

Magazines and newspapers

Community info services

Decision Making

Step 1 Identify the problem

Step 2 Collect information

Step 3 Consider alternatives

Step 4 Consider consequences of each alternative

Step 5 Make a decision

Step 6 Put the decision into action

Step 7 Evaluate results

Factors which influence our decisions when choosing goods

Internal Factors

Personal preferences

Personal values

Needs

External Factors

Advertising /Marketing

Peers / Friends

Family

Price / cost

Fashion

Sales people

Time

Impulse Buying

Buying something on the spur of the moment