Chapter 7:  Consumerism and Our Economy

What role should consumerism play in our economy?

9.2.3 a)  What are the indicators of quality of life?

9.2.3 b) How does individual consumer behaviour impact quality of life (e.g., environmental issues)? 

9.2.3 c) How does marketing impact consumerism? 

9.2.3 d) How does consumerism provide opportunities for and limitations on impacting quality of life? 

9.2.3 e) How is consumerism used as a power of a collective (e.g., boycotts)? 

9.2.3 f) To what extent do perspectives regarding consumerism, economic growth and quality of life differ regionally in North America? 

9.2.3 g) What societal values underlie social programs in Canada and the United States? 

7.1 How consumer behaviour impacts our quality of life

7.2 How consumerism influences decision making

Student Notes

bandwagon effect - encourages you to buy a product or service because everyone else is

boycott - a decision by consumers to stop buying a product or services as a way to bring about change

consumerism - an economic theory that links prosperity to consumer demand for goods and services, and that makes consumer behaviour central to economic decision making

Competition Act - the Canadian act aims to uphold competition among producers by ensuring fair business practices

economic growth - the degree to which a country's wealth increases over a period of time

emotional appeal - uses strong emotional language that connects with your fears and desires

glittering generalities  - relates the product or service to words or images that promise everything, but deliver little or nothing

per capita - average per person

plain folks appeal - relates a product or service to the experience of ordinary folks

prosperity - how well of someone is

scientific appeal - uses statistics or scientific data to persuade consumers to buy a product or service

testimonials - uses celebrities or experts to speak for a product

Consumerism is 

"an economic theory that says the more people buy, the better it is for the economy"

Consumerism can influence the economies of a country.  How Canadians choose to make consumer decisions tends to be based on common values.

What influences you to purchase an item or decide what specific company you will purchase the product from?

Have you heard your parents talk about the difference in items purchased in Canada vs the US? 

There are some items not available in Canada but are in the US and vice versa:

• Baby walkers are banned in Canada

• Kinder Eggs are not allowed in the US

In 2004, CBC posted an article stating "fines of up to $100K for owning, selling baby walkers".  

How may this have impacted Canadian quality of life?

How has it impacted Americans quality of life?

What you value in life helps to shape your quality of life.  Examples of the most common indicators of quality of life are:

• Gross Domestic Product (GDP) - how much wealth a country's economy generates

• GDP per capita - average per person

• Infant mortality rate

• Life expectancy

• Unemployment rate

• Opportunitites for education

• Access to health care

• Political, economic and religious freedoms

• Quality of the environment

How might these items be different if we were in a different country?

7.1 How consumer behaviour impacts our quality of life