1. Values

2.  Values effect our decisions on how to use our personal means (time, skill, money and family ) to get the goods and services we want.

3. Copy the following definition into your Vocab List  Values - core beliefs or principals that we consider important

4. They are different than Morals as morals tend to be commonly held views on right and wrong, where values differ between people. Many of our values are based on morals

7. Factors that determine values are:

8. Upbringing

9. Culture

10. Religion

11. Media

12. Peer pressure

13. In economics these values are important  Honesty  Telling the truth the whole truth and nothing but the truth  Integrity  A person of integrity is someone you can trust and rely on  Fair Dealing  Fair dealing is: not ripping people off, or taking advantage of other people  Consideration of others  Thoughtfulness, compassion, respect, concern, courtesy and kindness toward others

14. The link between values and consumer activity Values affect our decisions Decisions affect our actions Actions involve the use of our means Time money and skills