- Understand how shopping for bargains is part of a healthy financial plan.
- Analyze and use the three keys to getting bargains: Learn how to negotiate, have patience, and know where to find great deals.
- Develop skills for negotiating deals on products or services.
- Understand that integrity and honesty are important when it comes to negotiating with others.
- Know the best places to shop for deals.
- Evaluate the benefits of not buying brand-name products, taking advantage of seasonal shopping, buying slightly outdated products, etc.
- Make a copy of this Google Document, rename it Discounts-(your initials), and move it into your Chapter 7 folder.
- When purchasing items at a store, you pay more for the item than the retailer did, so the retailer makes a profit. The retailer purchases the item at wholesale and sells it at retail price. The difference between the wholesale price and retail price is called the markup. Oftentimes, sales are advertised as discount percentages such as 50% off, which represent the percent by which the price is decreased. The markup percentage is the percent by which the price is increased by the retailer.
- Read the instructions in the document and complete it as directed.
- Make a copy of this Google Document, rename the document Bargain-(your initials), and move it into your Chapter 7 folder.
- Obtain your partner from your instructor.
- Choose three specific items and research each product to find the best deal. Find the product at three different stores and provide your findings by filling in the table. You can decide where you choose to shop for the best bargain.