1. Business and the Consumer:
Values, Goals, and Choices

2. 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?

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

4. Values
Values can change after a significant emotional event

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

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

7. 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

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

9. Homework
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1a, b
2a, b, c
3a, b