Social Chapter Unit 6 (Chapter 7)

Prospers economy

How much money a countrys has

Role of consumers

Quality of life, identity of others and us

What is the economic theory of Consumerism?

Belief that more spending by people leads to more prosperity for the country.

What is the role of consumers in our economy?

Consumers are the "drivers." Their choices tell companies what to make and how to behave.

What is the relationship between consumerism and quality of life?

We use products to show our identity. Buying things that match our values, make us feel like we have a better life.

What is the connection between prosperity and consumerism?

people spend more, businesses grow, more jobs created, country gets wealthier.

Identity

5 factors. You buy things that tell the world who you are and what you believe in.

Health and Safety

5 factors. Government laws (like seatbelts or food labels) stop you from buying things that could hurt you.

Jobs

5 factors. Your spending keeps a "chain of jobs" going—from the person who grows the materials to the person in the store.

Environment

5 factors-Making products causes pollution (like acid rain) and creates waste (like plastic).

Marketing

5 factors-Ads use "tricks" to persuade you to spend.

Marketing techniques

Bandwagon(eceryone has it). Emotional Appeal(This will make you happy)

Glittering Generalities(Using fancy words that sound good but are vague)

How can consumerism "Empower" people/groups? (E.g. Boycotts)

If people stop buying from company (Boycott), they can force that company to change bad habits, like animal testing.

What affects the impact (Financial Means)

Your income. The more money you have, the more "power" you have to influence what companies sell.

What are the "By-products" of consumerism?

Negative side effects like too much trash, high debt, using naurual resources

What is Regional Disparity?

The difference in spending between areas (like people in the City vs. people in the Country).

What is GDP?

The total value of all goods and services a country makes in a year

What is GDP per Capita?

The total wealth divided by the population. It shows the average wealth per person.

Developed vs. Developing

Developed(Canada/USA) have high wealth and tech. Developing(Mexico) are still growing and often have more poverty.

What are some challenges consumers can create for society

It creates environmental issues (pollution). Also requires government intervention (regulations and bans) to manage these problems.

What are some opportunities consumers create in society

Consumerism creates jobs. When people buy more products, it leads to economic growth and higher profits for the country.