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Section 1: Being a Wise Consumer
In what type of society do we live?

We live in a consumer-driven society.
Why is there a lot of pressure and temptation to buy things?

There is pressure and temptation to buy things because we are bombarded by
advertisements, have numerous places to shop, and countless brands to choose from.
Every day, what choices do we need to make as consumers?

We need to make choices about what goods and services to buy.
What are four things that a bad purchase can mean?

A bad purchase can mean buying a poor-quality product, overpaying, not having a
proper warranty, or being unable to return the product.
When you make a bad purchase, what do you end up wasting?

You waste your money.
In order to avoid making bad purchases, what do you need to learn?

You need to learn the skills needed to become a wise consumer.
What is a wise consumer?

A wise consumer buys things at the best price and has no regrets.
Section 2: Strategies Used to Make Wise Purchases

In order to become a wise consumer, what needs to be done?
You need to learn and use key buying strategies.
What are four buying strategies that will help you get the best price and become a
wise consumer?
Planning your purchases, doing research, comparison shopping, and waiting for sales
or discounts.
Each purchase that you make should be thought of as what?

Each purchase should be thought of as an important decision.
Why do you make wiser purchases when you think about them as important decisions?
Thinking of purchases as important decisions gives you time to evaluate if the
purchase is good or bad.
When people don’t think about their purchases, what type of buyer do they become?
They become emotional buyers.
What is an emotional buyer?

An emotional buyer is someone who buys based on feelings rather than logic or
planning.
What are three important questions you should ask yourself before making a
purchase?
What do I really want or need?

Where is the best place to shop?
What is the best price?
What is the main cause of making bad purchases?
The main cause is buying without thinking or planning, which leads to emotional
buying.
Section 3: Doing Your Research
The more expensive a product, the more of what you should do?
The more research you should do.
Why is research important before buying a product?
Research helps you learn about the product's quality, features, and price.
Where is a good place to start when researching a product?

A good place to start is by asking friends and family for recommendations.
What has become one of the most valuable tools to gather information about a
product?
The internet has become one of the most valuable tools.
Where can you gain a wealth of knowledge about a product?

You can gain knowledge from the manufacturer's website, consumer reviews, and
professional reviews.
What is a well-known and trusted source for gathering information about a product?
Consumer Reports is a well-known and trusted source.
Section 4: Comparison Shopping

What will a smart shopper do in order to determine which product is the best value?
A smart shopper will comparison shop.
What is comparison shopping?

Comparison shopping is comparing the price and quality of products to find the best
value.
What are three things that can cause the price of a product to be different?
The product’s brand, size, and features.
Why do people tend to buy a specific brand?

People tend to trust the quality of popular brands or buy them because they are
popular.
What does popularity often mean about the cost of a product?

Popularity often means the product is more expensive.
When you buy a popular brand, what are you paying for?
You are paying for the name, logo, and popularity.
Instead of buying a popular brand, you can save a lot of money by doing what?
You can save money by buying a less popular or generic brand.
What is a generic brand?

A generic brand is a no-name brand without a recognized logo.
Often, who makes the generic brand?

Generic brands are often made by the same manufacturers that make name brands.
When it comes to the features of a product, you don’t want to pay for what?
You don’t want to pay for features you won’t use.
Why do people often buy the smaller size of a product?

People often buy the smaller size because it appears to cost less.
What is considered the real price of a product?

The real price of a product is the unit price.
What does the unit price mean?

The unit price is how much a product costs per unit of measurement (e.g., ounces,
pounds).
What is the math formula to calculate the unit price of a product?

The formula is: Total cost ÷ Number of units = Unit price.
Often, if you buy a larger quantity of a product, you receive a better what?
You receive a better price per unit.
What is one of the benefits of living in a consumer-driven society?

There are many places to compare prices.
With a little bit of time and effort, what should you be able to do?
You should be able to find the best price for a product.
Section 5: Waiting for Sales and Discounts

A wise consumer is also willing to wait for what?
A wise consumer is willing to wait for sales and discounts.
Usually, after a short time, what happens with the newest or most popular products?
Their prices drop.
When demand falls, what happens with the price of the product?
The price decreases.
The price of some products is very sensitive to what?

It is sensitive to the season.
Besides sweaters or jackets, what do you think might be another product that would
be seasonal?
Other seasonal products might include swimsuits or holiday decorations.
Besides learning the four buying strategies, what else will it be important to do?
It will be important to practice these strategies regularly and make them a habit.

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Section 1: Being a Wise Consumer

In what type of society do we live?

Why is there a lot of pressure and temptation to buy things?

Every day, what choices do we need to make as consumers?

What are four things that a bad purchase can mean?

When you make a bad purchase, what do you end up wasting?

In order to avoid making bad purchases, what do you need to learn?

What is a wise consumer?

Section 2: Strategies Used to Make Wise Purchases

Each purchase that you make should be thought of as what?

What is an emotional buyer?

What do I really want or need?

Where is a good place to start when researching a product?

Where can you gain a wealth of knowledge about a product?

Section 4: Comparison Shopping

What is comparison shopping?

Why do people tend to buy a specific brand?

What does popularity often mean about the cost of a product?

What is a generic brand?

Often, who makes the generic brand?

Why do people often buy the smaller size of a product?

What is considered the real price of a product?

What does the unit price mean?

What is the math formula to calculate the unit price of a product?

What is one of the benefits of living in a consumer-driven society?

Section 5: Waiting for Sales and Discounts

The price of some products is very sensitive to what?

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