Consumer - Anyone who buys goods or uses services, Goods - Items to purchase e.g. television, Services - Jobs carried out by a person for payment e.g. Hairdresser, Needs - Something you have to have to survive e.g. food, water, clothes, shelter, Expenditure - Payments made from income, Gross income - Income before deductions have been applied, Resource - Anything that can be used to help complete a task, Rights - Something you are entitled to, Responsibilities - Something you are answerable to, Income - Money coming into the household, Net income - Take home pay after deductions, Budget - A plan for saving and spending money, Savings - Money set aside at the end of each week/month, Credit - Buy now, pay later, Credit note - A receipt given by a shop that can only be spent in that shop, Priority - Something that is important to you, Consumer legislations - Laws to protect the consumer, Marketing - The process of making products sell, Wants - Something you would like to have, but is not essential to survive,
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Consumer Studies
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