HOME ECONOMICS AND LIVELIHOOD EDUCATION

Grade School - Week 6

FACE-TO-FACE

Ms. Jaqueline J. Andaya

Objectives:
1. identify the sellers and buyers; and
2. produce simple products
3. identify the buyers and sellers’ relationship
4. identify buy and sell products based on needs; and
5. sell products based on needs and demands in school and community.
ACTIVITY
TIME
 Seller
A persons who transfer products or services to the buyers in
exchange for money. Vendors, creditors, dealers, merchants and
suppliers are examples of sellers.
Buyer

purchase a product for his/her needs

 Duties of a seller
1. Make fair business with buyers.
2. Deliver goods with proper care on time to the place of delivery
3. Provide warranty for the product sold to the buyer

Rights of the seller

1. Receive the right payment for the amount agreed upon for
the item sold
2. Be able to collect for securing against loss or damage of
goods bought by the buyer
3. Get the goods back when the buyer fails to pay.
Types of Buyer & Seller
Relationship
Short-term relationship

are one-time shallow commintment purchases

Long-term relationship
involve regular purchases based on an agreement that had
been established for purchases lasting for a long period of
time.
Buying & Selling Products Based
on Needs & Demands
 Need, Wants,& Demands
Needs are the necessity of people, such as food, clothing and shelter.
Hence people cannot survive without them. Education and
healthcare are part of the human needs.

Wants are products or services that people desires or

wish to have.

Demands are step ahead of wants. These are the

amount of interest to a product that
consumers are willing to buy at a given price,
in a given period.
 The knowledge of the needs of people
helps entrepreneurs to market their
products and services

Physiology needs or basic needs are the things for survival such
as food, water, air, sleep, clothing, and shelter.

Safety needs or security are also important for survival but,

not demanding as basic needs. Examples of these are
employment, healthcare, and social stability
 The knowledge of the needs of people helps
entrepreneurs to market their products and services

Psychological needs or social needs includes the need for for

belonginess, love, affection, friendship, attachments and
affliction,( family friends, colleagues etc. )

Esteem needs include personal worth, social recognition, and

accomplishment.

Self-actualization or self-fulfillment are personal

awareness growth, and having less concern with the
opinions of the others.
 Review and
study lesson
weeks 5-6 and
be ready for
Long Quiz 2
Online