FHCE 3100 Lecture Notes - Lecture 7: Aarp, Price Discrimination, Margarine

• School: University of Georgia
• Department: Financial Planning, Housing and Consumer Economics
• Course: FHCE 3100
• Professor: moorman

Document Summary

A job expands to fill available time in order to accomplish something if you have all day you spend all day shopping when only really takes 30 minutes. Can help reduce amount of time we spend making decisions. They are principals that guide purchases such as only buying certain brands, shopping at certain stores. Price, income, and preferences help determine our choices. Most consumers try to stay within their budget constraints. Not everyone is offered the same opportunities to live according to his/her budget constraints; in that some are charged different prices for same goods/services. Different prices charged by hotels, airlines depending on group affiliation or who is making the purchase. Can be illegal if based on gender, age or race. Where you (cid:272)a(cid:374) (cid:271)uy a group of ite(cid:373)s (cid:271)ut (cid:272)a(cid:374)"t (cid:271)uy i(cid:374)di(cid:448)idually. Price for the privilege of buying items. Cover charge and price for drinks, country club dues and green fees.