Discuss ways people incur costs and realize benefits when searching for informat

Question

Discuss ways people incur costs and realize benefits when searching for information related to their purchases of goods and services and describe how the amount of information people should gather depends on the benefits and costs of the information.

Write a newspaper column, “Tips for Consumers,” explaining why searching for information may be more important when purchasing expensive, durable goods and services than for inexpensive and nondurable products. Include an explanation of how impulse buying can be avoided by sleeping on a decision before making a big purchase.

Explain that people may choose to donate money to charitable organizations and other not-for-profits because they gain satisfaction from donating.

Brainstorm a list of charitable organizations that are operating in the students’ community. For each organization, list a possible reason that a donor might want to give to that charitable organization.

Explanation / Answer

People incur cost in different ways like by purchase, paying of bills and by daily operational expences incured on the self and family. When an individual incurres cost in buying the costly items he or she does a research to see that he gets the best price and he does not land in paying more price for the product. Daily use items like household daily use item the research is not done as this does not matter if the prices are high by few cents. Only research work is done for the heavy items which are expensive and costly. Impulse buying can be avoided when their is a proper planning in advance and one is aware that he has to stick to his requirement only. Its very strange and awkward situation if one does a sudden buying and he or she does not have enough funds to do the purchase only way to avoid such situation is to make up your mind and stick to your requirement with proper planning. Yes to some extent people may choose to donate to the charitable organization eho cannot afford to buy the goods this is a good exercise as the needy and poor/weaker section of the people are helped to come in line with the generation. Yes some people prefer to donate rather than get profit as they get inner satisfaction and help the weaker section of people live the world with happiness. Charitable institution are run by the UNICEF and the stronger people who wants to donate it to the community for the Corporate social responsibility and the need for the down trodden and needy people. Their are several reasons why a donor wants it to give it to the charitablee organization like to help the needy to see that the poor people comee in line with the normal public.

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