Describe economic waste and what causes it. Determine which standards your family has used to measure its
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Question:
- Describe economic waste and what causes it.
- Determine which standards your family has used to measure its success. Is consuming a measure of success for you? Do you attempt to keep up with the "neighbors"?
- Discuss the statement, "Rich parents do not necessarily choose wisely for their children, and poor parents do not necessarily choose unwisely for their children." Are there benefits to be gained by having families train their children in techniques of being an intelligent consumer?
- Explore the ways in which consumers guide sellers.
- "If what is offered can be sold at a profit, it is legitimate. The business owner should not be concerned about any other considerations, moral, ethical, or religious." Discuss the implications of this position.
- Some people suggest that "home production" (producing goods in the home for family use) is increasing. Discuss some of the possible economic and social effects of this trend on society.
- What are the differences in motives between the family and the business world?
- What are the strengths and weaknesses of the profit system as presented in this chapter?
- What is implied by the question, "Does the economy produce what consumers want?"
- Who guides consumer decision making in the marketplace? Explain your answer.
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