Consumers

Consumers

1. Needs

   • Things we cannot do without
     • Food
     • Water

2. Wants

   • Things we would like to have/Luxury
     • Laptops
     • New phone
   • Change
     • Age
     • Culture
     • Family circumstances

3. Anyone who buys or uses goods or services

4. Rights

   • Honest information
   • Right to choice
     • Monopoly
       • When only one manufacturer/supplier produces product/service
   • Value for money
   • Safety
   • Redress
     • Return
     • Repair
     • Replace

5. Responsibilities

   • Know their rights
   • Know about consumer law
   • Be well informed about goods/services
   • Complain when consumer right/law broken
   • Use resources carefully, avoid waste
     • Consumer resources
       • Time
       • Money
       • Skills
       • Information
         • Helps them make wise decisions
         • To get value for money
         • Sources
           • Advertising
           • Salespeople
           • TV/Radio
           • Friends/Other consumers