Consumer studies

Question	Answer
Give an example of a good and a service	Good = Food Service = Dentist
What is a need?	Something we can't live without such as food or water
What is a want?	Something we do not need, but would like to have such as chocolate or an Iphone
What are the five rights consumers have?	1. The right to honest info 2. The right to choose 3. The right to value for money 4. The right to safety 5. The right to redress
Name 3 responsibilities consumers have	- To know their rights - To educate themselves about consumer law - Keep all receipts
Name four sources of consumer information	- Advertising - Salespeople - Showrooms - The internet
Name five factors that influence our decisions when buying goods	- Needs - Price - Peers/family - Celebrities - Trends
What is impulse buying?	Buying something in the spur of the moment. Example: Going into the shop to buy milk but coming out with a bar of chocolate, crisps and milk
What are consumer resources?	Time, money, skill and information

Resource summary

	Created by Josh Humphries over 5 years ago