Social consumerism

• Consumerism


  The more you buy, the better it is for the economy
• Mixed economy


  • Public (government) and private sectors work in unison with a large role by consumers
• Market economy


  • Private sector does everything with a complete role by consumers (capitalist)
• Public/communist economy


  • Consumers play a smaller role
• Factors of production


  • What is produced?
  • How is it produced?
  • For whom do we produce it?
• Traditional economy


  • Good for the environment, indigenous hunting/gathering, trading, use what they produce
• Economic systems


  • Capitalism
  • Socialism
  • Communism
• GDP (Gross Domestic Product)


  The value of all the finished goods and services produced within a country
• Subsidies


  Government gives money to balance a bad year in business
• Bailouts


  Government support for important businesses that are failing
• Make work projects


  Government employs a bunch of people and benefits society by building it
• Equilibrium


  Equal (zero)
• Break even


  No profit or loss
• Profit (surplus)


  Extra money you make on something
• Shortage


  Losing money (lack of profit)
• Why governments get involved

  • Guard against price fixing in essentials, avoid monopolies, address obsolescence
• Unions


  • Keeps the work environment fair, employees have to pay to be part of it, benefits for employers, bad for business
• Powers of consumers


  • Boycott
  • Buy local instead of box stores
  • Underground/informal economy (black market)
  • Money laundering
• Carbon footprint/ecological footprint


  Measurement of pollution caused by personal consumption of goods and fuels, impact on the planet
• Environmental stewardship


  Responsible use and protection of the environment
• Carbon capture


  Removing carbon dioxide from the atmosphere