Vocabulary:

#10 page 99
List three ways businesses meet customer needs and wants, other than with pricing strategies.

#15 page 99
List three things you can do before you shop to improve your purchasing power.

#16 page 99
List three things you can do whiles shopping to make better purchase decisions.

#22 page 100
Shopping is something everyone has to do.  Goods and services are promoted through various methods of advertising.  How many times have you thought that you were misled by an advertisement?  Have you been convinced to buy something that you later thought was not worth the money?  Choose one of the methods of advertising below.  Then describe the target audience and the appeal for the ads it shows.
a.  Watch television for one-half hour,  During that period, write down every ad (commercial) you watch.  For each ad, describe the group of people you think the ad is targeting.  The tell whether the appeal is rational (meets real needs) or emotional (creates a desires for a product).  Tell whether or not you think the ad is effective, and explain why.

b.  Listen to a local radio station for one-half hour.  Write down every commercial you hear.  For each ad, describe the people you think are in its target audience.  Then tell whether the appeal is rational or emotional.  tell whether or not you think the ad is effective, and explain why.

c.  Look through a daily newspaper or magazine.  Make a list of the types of advertisements you find.  Fore each type of ad, describe the target audience.  Then tell whether the appeal is rational or emotional.  Tell whether or not you think the ad is effective, and explain why.

d.  Go to a business website and look for specific products that interest you.  Evaluate the website in terms of how it met your need.  Describe the effectiveness of the site’s design as well as its ease of use in finding the desired information.

#17 page 91
What is optimizing?  how does this buying strategy affect demand and prices in a market economy?

#20 page 92
Consumer’s buying habits greatly affect prices.  Explain what consumers can do to help keep prices reasonable.

#21 page 92
New products, especially in the field of technology, are in high demand and are very expensive when they are first introduced.  Can you give an example of a product that was initially very expensive, but the price dropped after a year or so?  Why did the price drop?