Persuasive advertising tries to convince you that you really ‘need’ a product. It can be manipulative as it tries to influence your emotions.
Legal tender means that the notes and coins must be accepted as payment by retailers if offered by a customer.
A deposit is a small part of the cost of the product which will reserve the product for you until you return and pay the rest of the money owed.
Electronic Funds Transfer (EFT) allows money to be transferred from one bank account into another account.
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Electronic Fund Transfer at the Point of Sale (EFTPOS) refers to all the systems that allow customers to pay money electronically in shops. q q q
Key Concepts
1. (a) What is a consumer? (b) List five things you can do to be a smart consumer. (c) Distinguish between a consumer need and a consumer want.
2. Explain what is meant by a false economy. 3. Give examples of five Irish brands. 4. What is meant by unit pricing? 5. What is meant by below-cost selling? 6. What are impulse purchases? 7. List two reasons why getting a receipt is always a good idea. 8. (a) Distinguish between informative and persuasive advertising. (b) In advertising, what does AIDA stand for?
9. List three ways to pay for shopping with your own money. Critical Thinking Skills
1. (a) Packets of chocolate biscuits come in two sizes: • Small (200 grams) costs e1 • Large (600 grams) costs e1.50 Which packet is better value for money? (b) Kato cat food comes in tins of three sizes: • Small, (500 grams), costs e2.80 • Medium, (750 grams), costs e3.50 • Large, (1kg), costs e4.00 Which tin of cat food is the best value for money?
