Presentation on theme: "SECTION 3 NATIONAL & GLOBAL ECONOMY National & Global Economy GCSE ECONOMICS: UNIT 11 3.3 The Power of the consumer."— Presentation transcript:
SECTION 3 NATIONAL & GLOBAL ECONOMY National & Global Economy GCSE ECONOMICS: UNIT 11 3.3 The Power of the consumer
SECTION 3 NATIONAL & GLOBAL ECONOMY Aims of today’s lesson … Understand that consumers have buying power and that this can be used to influence businesses to supply goods that are ethically sound Identify the ways in which the UK Government works to reduce world poverty
SECTION 3 NATIONAL & GLOBAL ECONOMY Consumer Power As an individual you may think you have little say or power over the goods and services that are made available by firms However through your choices, as a collective group, consumers can almost force producers to adapt their products to consumer demand As you researched last lesson, consumers can boycott products, services and even countries This is the result of consumer empowerment
SECTION 3 NATIONAL & GLOBAL ECONOMY Consumer Power cont. Consumers also demand cheaper products or more for the price they pay In response to this many UK firms have moved all or part of their operations overseas, in order to compete with lower prices UK imports Q. Other than price what else might influence you to buy or not buy a product? A. Online customer reviews/feedback; are they fair- trade?; organic?
SECTION 3 NATIONAL & GLOBAL ECONOMY Consumer Power cont. Consumers may choose to boycott products based on the following – Are they fair-trade? – Are they locally produced? – Does their manufacture result in a huge carbon footprint? – Does the product come with excessive packaging? – Have humans or animals been detrimentally treated in its manufacture or supply?
SECTION 3 NATIONAL & GLOBAL ECONOMY Over to you… Open and complete the task below… 3.3 The power of consumers
SECTION 3 NATIONAL & GLOBAL ECONOMY The role of the UK Gov. in reducing poverty The UK Government is one of the foremost governments working to rid the world of extreme poverty The Department for International Development (DFID) is the part of the UK Government that manages Britain’s aid to poor countries Open ‘Trade Matters’ from the SSA and summarise the work the UK Government is doing to help poorer countries on the Task Sheet