Code: 1.3.3 · Adults
Purchases
Descriptors
Knowledge
What you can do at this level
- Kresiliencedaily-lifelarge-majority
Understands that money spent to purchase a certain good or service is no longer available for something else (the concept of opportunity cost)
- Kresiliencedaily-lifelarge-majority
Understands that irreversible costs made in the past should not influence purchase decisions today (applying the concept of sunk cost)
- Kresiliencedaily-lifelarge-majority
Knows that there can be substitutes for products, in some case including second-hand or refurbished ones, and services that may cost less than the one originally identified
- Kresiliencedaily-lifelarge-majority
Knows that there can be complementary products and services necessary to use certain products or services
- Kdigitalresiliencedaily-lifelarge-majority
Knows applicable consumer rights when making purchases, especially online (i.e. return policies, information disclosure)
- Kresiliencedaily-lifelarge-majority
Recognises that adverts, special offers and the media can have a powerful impact on one’s perceived desirability of particular purchases
Skill
What you can do at this level
- Sresiliencedaily-lifelarge-majority
Considers the overall value or utility of a potential purchase as well as its price
- Sdigitaldaily-lifelarge-majority
Where relevant and provided for in law, returns purchases made online or through other types of distance selling within the timeframe specified by law for a full refund
- Sresiliencedaily-lifelarge-majority
Develops strategies to avoid or minimise overspending, impulsive shopping and other unintended consequences of advertising and social pressure
- Sresiliencedaily-lifelarge-majority
Takes steps to make informed purchases
- Ssustainableresiliencedaily-lifelarge-majority
Considers sustainable alternatives to new purchases, such as reusing and recycling
Attitude
What you can do at this level
- Adigitalresiliencedaily-lifelarge-majority
Confident to use the right to return purchases made online or through other types of distance selling, within the timeframe specified by law for a full refund, where relevant and provided for in law
- Adigitalresiliencedaily-lifelarge-majority
Confident to say no to a sales offer that is unsatisfactory or unwanted, including online offers (i.e. pop-ups, online ads)
- Adigitalresiliencedaily-lifelarge-majority
Confident to resist pressure to make unplanned purchases
- Learning outcome types
- K — What you need to know: theoretical understanding and factual information.
- S — What you can do: practical and technical abilities.
- A — How you approach things: values, dispositions and behaviours.