1. How can we be smart shoppers? . . . . . . 43 2. How can we understand advertising?. . . . 49 3. How can we pay for our shopping? . . . . . 52 4. How can we be smart shoppers online? . . 55 Chapter Review . . . . . . . . . . . . . . . . 57
Learning Outcomes 1.2 1.9 1.10
Case Study Consumers
Lucy Foley needs new shoes and is going shopping with her best friend, Anna Nowak, who is looking for new jeans. Lucy has a budget of €50 for her shoes and wants to shop around to see where she can get the best shoes at the best value. Anna has a gift card with €60 credit that she got for her birthday.
I don’t want to spend all my money.
Shoppers like Lucy and Anna are consumers. A consumer is anyone who purchases goods or services for their own use. You are a consumer whenever you purchase anything, such as phone credit, a magazine or a hair-cut. Your parents are consumers when they purchase items such as groceries, a car or a holiday. Being a consumer is an essential part of life.
I want to buy the latest fashion.
I want to look for
bargains.
I want shoes that won’t hurt my feet!
We need goods and services to live and we have to pay for most of them. Since our money is limited, managing personal finances means learning how to spend money wisely. This involves making choices. Making these choices can be tough for consumers.
