Introduction
Revision:
What is a need?
Goods and services which consumers need to survive. These include fresh water, clothing and food.
What is a want?
Goods and services which consumers can live without but would like to have.
What is scarcity?
Definition from the dictionary:
‘the state of being scarce or in short supply; shortage’ – Oxford Dictionary’.
The problem of limited resources available to satisfy unlimited wants.
Who are consumers?
Anybody that buys a good or service.
What are resources?
Human (workers) - The people that do the work also called labour.
Capital (machinery) - Goods made by people which are used to make other goods or to provide a services.
Natural (oil, coal, etc) - Resources that come from the natural environment.
Why do we make choices?
We make choices because we can not have everything we want. We must make choices as a consumer and as a member of society.
How do our purchases affect our resource use?
When we want something demand goes up and so does the price.
What is sustainable consumption?
Consumer decisions made today have a big impact on the environment now and in the future. Sustainable consumption means consumers consider the environment and consume responsibly.
What is demand?
How much consumers want a particular good or service.
What is supply?
How available a good or service is for consumers.
Task
Your task is to answer the following questions. Use your prior knowledge from the previous lessons in addition I have supplied some websites to help you with answering these questions on the next page.
How can resources be in abundant supply, be regarded as scarce?
What are the main water sources/supply in Perth?
Is water scarce in Perth?
How can a household conserve water?