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The Role of Consumer!

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The document discusses the roles of consumers and sources of household income. Consumers play three main roles: purchasing goods and services based on their income, maximizing utility by allocating resources efficiently, and making rational purchasing decisions. Households derive income from three sources: wages and salaries from labor; property such as capital and land; and transfer payments from the government for those in need. The document also lists traits of smart consumers and defines the different types of income including wages, property income, and government transfer payments.

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DENISE, DEALO DELA CRUZ, CLARISSE ERNACIO, ALEA LAA, ANGELICA
The Role of Consumer!
ROLE OF THE CONSUMER 1. Purchasing Goods and Services 2.Maximize Utility 3.Make rational purchasing decisions
PURCHASE GOODS AND SERVICES The main role of the consumer is to spend money. How much money a person spends is primarily based on his/her income.
MAXIMIZE UTILITY Consumers play a role in the economy by maximizing utility, which means allocating their scarce resources, such as limited time or money, most efficiently.
MAKE RATIONAL PURCHASING DECISIONS Economic consumer theory hinges on consumers making rational buying decisions. The role is to measure all possible outcomes of their choices and use this knowledge to make an informed decision.
TRAITS OF A SMART CONSUMER Seeks value for every money spent PANIC BUYING Knowing the quality first Has alternatives Follows the budget Seeks variety
SOURCES OF INCOME PAYDAY!!!
Households derive their incomes from three basic sources: 1. From wages or salaries in exchange of labor; 2.From property that is, capital, land, and so on 3.From government
WAGES AND SALARIES Wages and salaries in cash consist of wages or salaries payable at regular weekly, monthly or other intervals, including payments by results and piecework payments; plus allowances such as those for working overtime; plus bonuses; plus commissions, gratuities and tips received by employees.
INCOME FROM PROPERTY Property income is the income from the ownership of real property and financial holdings. It takes the form of profits, interest, dividends, and rents.
INCOME FROM THE GOVERNMENT: TRANSFER PAYMENTS Income from the governments are in the form of transfer payments. Transfer payments are payments by government to people who do not supply goods or services in exchange. Some, but not all, transfer payments are made to people with low incomes. Transfer programs are largely designed to provide income to those in need.

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The Role of Consumer!

  • 1. DENISE, DEALO DELA CRUZ, CLARISSE ERNACIO, ALEA LAA, ANGELICA
  • 3. ROLE OF THE CONSUMER 1. Purchasing Goods and Services 2.Maximize Utility 3.Make rational purchasing decisions
  • 4. PURCHASE GOODS AND SERVICES The main role of the consumer is to spend money. How much money a person spends is primarily based on his/her income.
  • 5. MAXIMIZE UTILITY Consumers play a role in the economy by maximizing utility, which means allocating their scarce resources, such as limited time or money, most efficiently.
  • 6. MAKE RATIONAL PURCHASING DECISIONS Economic consumer theory hinges on consumers making rational buying decisions. The role is to measure all possible outcomes of their choices and use this knowledge to make an informed decision.
  • 7. TRAITS OF A SMART CONSUMER Seeks value for every money spent PANIC BUYING Knowing the quality first Has alternatives Follows the budget Seeks variety
  • 9. Households derive their incomes from three basic sources: 1. From wages or salaries in exchange of labor; 2.From property that is, capital, land, and so on 3.From government
  • 10. WAGES AND SALARIES Wages and salaries in cash consist of wages or salaries payable at regular weekly, monthly or other intervals, including payments by results and piecework payments; plus allowances such as those for working overtime; plus bonuses; plus commissions, gratuities and tips received by employees.
  • 11. INCOME FROM PROPERTY Property income is the income from the ownership of real property and financial holdings. It takes the form of profits, interest, dividends, and rents.
  • 12. INCOME FROM THE GOVERNMENT: TRANSFER PAYMENTS Income from the governments are in the form of transfer payments. Transfer payments are payments by government to people who do not supply goods or services in exchange. Some, but not all, transfer payments are made to people with low incomes. Transfer programs are largely designed to provide income to those in need.