Consumer Studies Flashcards
A consumer
Anyone who buys or uses goods or services
Needs
Things we can’t do without eg. food, water, shelter, warmth, clothes
Wants
Things we would like to have eg. new phone, expensive cars
Name 5 rights
The right to honest and truthful information The right to choose The right to value for money The right to safety The right to redress
Our responsibilities as consumers (4)
To know our rights as consumers
To be well informed about goods/services
To be conscious of the balance between cost and quality
To read labels and follow instructions
Sources of consumer information
Advertising, exhibitions, salespeople, tv, radio, other consumers, the national consumer agency
Factors which influence our decisions when buying goods
Internal factors-personal preference, personal values,need
External values-advertising, peers, price, fashion
Impulse buying
Buying something you do not need in the spur of the moment
Monopoly
Occurs when only one supplier produces a product
A priority
Something you feel is important to you
Consumer Information Act 1978
Protects against false claims about goods/services
Applies to claims about price
Sale of Goods + Supply of Services Act 1980
Gives rights when buying goods; must be merchantable quality
Fit for purpose intended
Redress for faulty goods
Consumer may be entitled to compensation if the goods prove faulty
A guarantee
A contract between the manufacturer and consumer
Consumer complaints
If goods are bad quality , consumer is enabled to complain and seek compensation
How can consumers lose their right to a refund?
If they alter the goods in some way
They do not complain reasonably promptly
How to make a complaint
Return to shop with receipt
Ask to see manager and explain problem
Complaining by letter
Should include
Description of goods
When/where it was purchased
Copy of receipt
Quality
Implies that goods and services are of an acceptably high quality
Quality control
Testing is carried out to enemies that goods on sale are safe and suitable
Features of services
Value for money
Reliability and punctuality
High level of hygiene and safety
Quality of service
Influenced by
Consumer reaction to service
Amount of competition Between suppliers
Money management (budget)
Involves dividing up your income to allow a certain amours towards exam expense
Annual gross income
The total amount earned in one year, however certain deductions can be taken from this
