Consumer Powers and Protections

1. Consumer Powers and Protections Section 1.1

2. Terms to Know Consumer Goods Services Marketplace retailers

3. _____________ is someone who uses goods and services ____________ are physical objects that are produced, such as radios, chocolate chip cookies and magazines. ____________ are actions that are performed for someone such as repairing a car.

4. Make a list of some services which you can think of? ___________________ ___________________ ___________________ ___________________ ___________________

5. Who are you? Consumers use goods and services even if you do not pay for them. Workers are people who earn money for doing a job and volunteers are also workers even though they don’t make money. Citizens-Use public services like __________ and ________.

6. The purchasing decisions made by consumers have an impact on our marketplace.

7. Teens are Important Consumers Why? What decisions that make a difference have you made?

8. Characteristics of an Effective Consumer The set goals - decide what they want and how to get there. They do this by setting priorities on how they spend their time, energy and money Effective consumers think critically - they make decisions based on careful consideration

9. Effective consumers do their research - They read, observe and ask questions about their options. Effective consumers manage everyday finances - they handle their income, expenses, taxes, banking and credit responsibly Effective consumers plan for financial security – They set up plans for investing, saving, and insurance

10. Questions to answer Explain the differences between the roles of the consumer, citizen, and worker. How has technology such as the internet changed the marketplace. Why is it important to use consumer skills wisely when making financial decisions?