All About Money!

We are a month into the semester now and into our second unit.  We spent the last two weeks discussing money; why it is used, the role the government plays in issuing money and how it helps business "work."

Answer the following questions to illustrate and extend your understanding of our class discussions;

1. In class we had an excellent discussion about money and an item's value.  We noticed how a good or service's price is often different then its value to the potential customer. We also discussed how an item's value can differ between to consumers. Explain both of these observations using an example from your own experience.
2. Are you a spender or a saver?  Justify your answer with examples of your behavior.  If you're a saver; what are you saving for? If you are a spender; what are some item's you are constantly spending money on that prevent you from saving?

Maslow's Hierarchy of Needs

Over the past 3 classes we have been talking about Maslow's Hierarchy of Needs. Consumer behavior can be explained using the hierarchy to frame purchasing decisions. Answer the two questions below to illustrate your understanding of the hierarchy;

1. What level of Maslow's Hierarchy do you understand the best or makes the most sense to you? Explain your answer. 
2. Discuss 2 purchases you recently made and how they can be explained using Maslow's Hierarchy of Needs.  Select two that satisfy different levels of the Hierarchy.