Business and the Consumer: Values, Goals, and Choices

Needs and Wants Goods once considered wants are now considered needs Examples: TV, computer, car(s) To satisfy wants, ask these questions: Do I REALLY need it? How much can I afford to spend?

Values Definition: What you believe is important in life Our values are influenced by personal experiences, behaviour of family members, friends, classmates, community, etc.

Values Values can change after a significant emotional event

Goals Something you work to achieve Can be short term or long term Wise to establish both types of goals for maximum success

Goals Short term goals can be achieved in the near future Long term goals can be achieved many years from now

Choices Because you cannot satisfy all your needs and wants, you must make choices The high costs of products and services have forced many Canadians to make wise choices in order to sustain current lifestyles

Choices – Decision Making Model In making important choices, use the five-step decision making model (p. 19-20) Define the decision to make Identify alternatives Evaluate advantages and disadvantages of alternatives Decide and take action Evaluate the decision

Homework Page 30 1a, b 2a, b, c 3a, b