1. CONSUMERS Anyone who uses goods or services © PDST Home Economics

2. Goods and Services Goods: Products that are bought Goods: Products that are bought e.g. food, clothes e.g. food, clothes Services: Doing work for another Services: Doing work for another usually involving payment usually involving payment e.g.hairdressing, car repair e.g.hairdressing, car repair

4. Needs and Wants Needs: Things we cannot do without Needs: Things we cannot do without e.g. food, clothing, shelter, warmth e.g. food, clothing, shelter, warmth Want: Things we’d like to have but can live without Want: Things we’d like to have but can live without e.g. MP3 players, holidays, mobile phones e.g. MP3 players, holidays, mobile phones Some wants are considered to be luxurie Some wants are considered to be luxuries

6. Needs and wants Needs and wants Needs and wants change depending on a number of things: Age Age Culture Culture Circumstances Circumstances A priority is something that is very important to you

7. Consumer Rights The right to truthful information The right to truthful information The right to choose The right to choose The right to value for money The right to value for money The right to safety The right to safety The right to redress The right to redress A monopoly happens when there is only one supplier of a product or service i.e. there is no competition

8. Consumer Responsibilities To know your rights To know your rights To know consumer law To know consumer law To inform yourself about goods and services so you can choose wisely To inform yourself about goods and services so you can choose wisely To understand the balance between cost and quality To understand the balance between cost and quality To read labels and follow manufacturers instructions To read labels and follow manufacturers instructions To complain about faulty goods and services To complain about faulty goods and services To avoid wasting resources and protect environment To avoid wasting resources and protect environment

9. Resources Anything that is used in doing a task e.g. Time Time Money Money Skills Skills Information Information Equipment Equipment Materials Materials

10. Consumer Information Consumer information: Consumer information: any knowledge that helps a consumer to buy wisely any knowledge that helps a consumer to buy wisely Consumer education: Consumer education: using this knowledge to make informed decisions when purchasing goods and services using this knowledge to make informed decisions when purchasing goods and services

11. Why do consumers need to be informed? So they make wise buying decisions So they make wise buying decisions To get value for money To get value for money To understand consumer law To understand consumer law So they know how to get redress So they know how to get redress

12. Sources of consumer information Consumer Association of Ireland and Consumer Association of Ireland and National Consumer Agency National Consumer Agency Advertising Advertising Showrooms & exhibitions Showrooms & exhibitions Salespeople Salespeople TV/radio consumer programmes TV/radio consumer programmes Internet consumer sites Internet consumer sites Manufacturer’s leaflets Manufacturer’s leaflets Other consumers Other consumers Magazines and newspapers Magazines and newspapers Community info services Community info services

14. Decision Making Step 1Identify the problem Step 1Identify the problem Step 2Collect information Step 2Collect information Step 3Consider alternatives Step 3Consider alternatives Step 4 Consider consequences of each alternative Step 4 Consider consequences of each alternative Step 5Make a decision Step 5Make a decision Step 6Put the decision into action Step 6Put the decision into action Step 7Evaluate results Step 7Evaluate results

15. Factors which influence our decisions when choosing goods Internal Factors Personal preferences Personal preferences Personal values Personal values Needs Needs External Factors Advertising /Marketing Advertising /Marketing Peers / Friends Peers / Friends Family Family Price / cost Price / cost Fashion Fashion Sales people Sales people Time Time

16. Impulse Buying Buying something on the spur of the moment