How should children spend their allowance money?
Why is owning material possessions important to people?
Why do big companies introduce new products frequently?
Useful Vocabulary
Show off = display something proudly in order to impress others or to attract attention.
“Luxury items are popular for young people simply because they want to show off their social status.”
Being too interested in one’s own appearance or achievements.
“Older people are usually not as vain as people my age.”
To show something off in a very noticeable and proud way.
“Older people tend to stay away from flaunting their wealth.“
A small amount of money that parents give to their children regularly to spend as they wish.
“Children can use their pocket money right away to buy little things that make them happy.”
To “take comfort in” something means to find relief or feel better because of it. It’s when something helps you feel more relaxed, secure, or happy especially during stressful or difficult times.
“Most of us take comfort in having something tangible we like.”
Something that is physical and can be touched or seen, as opposed to ideas or feelings which you can’t physically touch.
“Most of us take comfort in having something tangible we like – something we can see and hold.”
The extent to which consumers are familiar with or have seen a particular company and its products, making sure as many people as possible see and recognize the brand, which helps increase its popularity and sales.
“Big companies want to keep consumers interested in their products and to increase brand exposure by maintaining a presence on different advertising platforms.”
The amount of money someone has available to spend or save after taxes have been taken out and they have paid for food and other basic needs.
“Changes in the economy certainly have significant influence on how people allocate their disposable income, affecting various aspects of consumer behaviour.”
Periods when the economy is not doing well, when there is often less business activity, fewer jobs, and people generally spend less money because they are earning less or are uncertain about the future.
“During economic downturns, we often prioritize essential expenditures.”
The money spent on non-essential items and services that people choose to buy for pleasure or leisure.
“During economic downturns, we often prioritize essential expenditures, such as groceries and rent, over discretionary spending like entertainment and dining out.”
The ability of money to buy goods and services. It indicates how much you can buy with a certain amount of money. When inflation increases, the purchasing power usually decreases because prices go up, meaning you can buy less with the same amount of money.
“Inflation has had a huge impact on our purchasing power.”
How should children spend their allowance money?
People might have different opinions about this, but I’d say children can either use their pocket money right away to buy little things that make them happy or they can save up for something more substantial over time, like a bicycle or a doll house.
Why is owning material possessions important to people?
Well, most of us take comfort in having something tangible we like – something we can see and hold, whether it’s an item that means a lot to us like a gift given to us by a loved one or an object that makes our life better, such as the latest cell phone.
Why do big companies introduce new products frequently?
Nobody really knows why exactly but I’d guess big companies want to keep consumers interested in their products and to increase brand exposure by maintaining a presence on different advertising platforms, like TV commercials.
