https://padlet.com/tjohnson66/ncrjj043ofhs READY STEADY COOK Respond to the following statement - “Consumers are king in the Australian economy”. In your response, you should include the following words. These are the ingredients necessary for a good response. Tick them off as you go. Try and ensure that your response flows and makes sense. NOTE - Try and refer to the changes that McDonalds has made to their menu to support your answer. Consumers Producers Good or service Tastes and Preferences Price Demand Supply Want Desire Profit Extension words/points What is produced? How much is produced? Satisfy consumer wants Adjust what they sell Willing and able to pay Impact on revenue/sales en-us 2017-05-22 23:56:26 UTC 2017-05-26 08:43:46 UTC hello@padlet.com tjohnson66 https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173273488 Consumers 
Producers 
Good or service 
Tastes and Preferences 
Price 
Demand 
Supply 
Want/Desire 
Profit 

Extension words/points 

What is produced? 
How much is produced? 
Satisfy consumer wants 
Adjust what they sell 
Willing and able to pay 
Impact on revenue/sales]]> 2017-05-23 01:18:48 UTC https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173273488 https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173291883 Consumers are kings in the Australian economy because if the demand that they have so, with that the producers have to make more things to fulfil the demand of the consumers. In the Australian economy, having unlimited wants is what everyone consumer has, you can't stop the demand with these consumers, this is why the world has 'The Economic Problem', the problem is that the world's governments do not have enough supply/resources to fulfill the wants and desires of this planet. Satisfying consumer wants is IMPOSSIBLE for many reasons, but the main one is that we do not have enough supplies/resources to satisfy these wants. Being a producer also can have benefits, as a producer you can make profit if you sell what your produce and you can sell your products so that the consumers are willing and are able to pay for your product. Producers can adjust what they sell to suit the consumers wants for a lower price and there will most likely be a HUGE impact on revenue/sales in a good way, just like McDonald's with the way they changed the fries in the meal deal to a salad which halved the amount of calories in the meal.]]> 2017-05-23 04:12:17 UTC https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173291883 papin22 https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173291888 2017-05-23 04:12:19 UTC https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173291888 https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173291896 2017-05-23 04:12:25 UTC https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173291896 ristd22 https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173291907 A consumer is a person who buys goods and services, theses goods and services can be a want or a need, a want is a desire that people want and DON'T need, the list of wants is endless, meaning that you will have to make decisions about what you are going to buy. Producers are the ones that make a profit but that can all change when people's taste for stuff changes and if producers cannot respond fast enough, they will go out of business.]]> 2017-05-23 04:12:30 UTC https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173291907 https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173291933 In Australia the consumers are the kings! The producers rely on the consumers because they would not be able to make a profit without them. The consumers also rely on the producers because they believe that the businesses will meet their tastes and preferences and demand, they also like to ensure that the price stays as reasonable as possible. Consumers and producers are interdependent this means they rely on each other to get the jobs done. Consumers all have an endless list of desires and wants from people craving the supply of the products, this is how businesses make a profit. Goods and services also plays a big part in this as the consumers buy the goods after the businesses pay a big service to get the products to them. Without consumers businesses would not be able to make a profit and they would have to close theirs business because no one bought their items.]]> 2017-05-23 04:12:37 UTC https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173291933 https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173291945 Consumers and producers run this world. They need each other to survive. They provide goods and services to everyone. Producers sell needs like food and water, while other producers sell wants like toys and technology. Producers rely on consumers to buy there products. They sell it for more money so they can make something called profit. The price will go higher or lower depending on the competition. Consumers rely on producers to fit there demand. Consumers want the latest trends or styles, and they rely on producers to give them that. But, producers have to be careful because sometimes supply can go low, and they can run out. Lets take Mc Donald's for example. Maccas have recently started brining in healthier food because thats what people want these days. Macca's have raised the price on the healthier options because thats what consumers are willing to pay. People's taste and preferences have changed, liking healthier food now, and Macca's have changed their menus to get more consumers in and to make more money and profit. In the end, consumers are king of the Australian Economy because without them, no one would make any money. ]]> 2017-05-23 04:12:45 UTC https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173291945 carrd22 https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173291949 Everyone is a consumer even a producer. Consumers are Kind because they decide whether something is needed or not. Consumers need goods in their life. If a consumer prefers one company than another it decided that the liked company will keep on going. Producers must keep up with consumers otherwise they will go out of business. Consumers decide on many different ways on how the economic works and the products. If the price is unacceptable  or will make an out of this world profit, then the consumers will refuse to make the payment. If the demand for a product is high and the supply is low the consumers will not be very happy and keep on wanting needs. Consumers unlimited wants and desires can be controlled but not stopped my producers. If there were no consumes then there will be no judge on what our economy changes or keeps the same. Consumers are an important part of the economy.Consumers are the judges of the economics and if the producers can stand the heat then they have to get out of the kitchen. Being a producer is hard enough and with all these new trends and wantings from consumers it makes it even more hard. Consumers will always know what they want and and just like an adorable baby they always get what they need and they become the boss of everything. Some companies will change certain things about then to make them bigger, competing against companies to try to be the best.These are the main reasons why consumers are the King of Australia's Economy.]]> 2017-05-23 04:12:46 UTC https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173291949 rabip22 https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173291964 Consumers are king in the  Australian economy because they are the ones that keep the economy running because when they buy things producers will make profit. But the demand of the consumers wants are unlimited and the supply is limited, This is called the economic problem. When a consumer' s taste or preference changes producers will have to keep up with trends which might cause the producer to change the product they are selling in order to make more profit, this is why consumer is king of the Australian economy because they can control what producers sell or make. Goods and services are part of the reason why consumers are king of the economy, this is because consumers pay the service or pay for the good because it is in trend or because they want it, take McDonalds as an example, they have changed their menu to please their consumer this is how a comsumer can control a producer. If the consumer is changing its taste and references , the producer will have to change the product, in order to keep up with trends and make profit.]]> 2017-05-23 04:12:57 UTC https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173291964 caldt22 https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173291965 2017-05-23 04:12:57 UTC https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173291965 https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173291986 Are consumers the kings in the Australian economy? Yes they are! If your wondering what a consumer is then let me give you a brief definition. A consumer is someone who buys a product of a producer (who is a person who makes products/resources.) If there were no consumers in the world, that would mean that there would be no money in the economy. You see, when a producer supplies a want, good or service to the taste or preference of a consumer. The consumer would pay a reasonable price to own it. If consumers don't buy things then business don't have enough money to make supplies or run a business. That would mean that the business would shout down. That would mean people loosing jobs and the circle continues. However this is not the Economic problem. The Economic problem is the fact that there are unlimited wants and limited resources. The consumers will demand more supplies and companies will not be able to supply them. Another big throng for consumers is change on fashion. They want to keep up with the trends and so do the businesses. An example of this is McDonald's. They altered their products to satisfy their consumers. They released healthier options to put with their meals. Consumers were happy with this decision and that brought more customers to McDonalds. McDonalds are now able to satisfy consumer wants and are making a reasonable profit.]]> 2017-05-23 04:13:15 UTC https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173291986 https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173292009 Consumers are the king in the Australian economy because if they're wasn't any consumers every business would go broke. The demand on goods and services would drop if there wasn't any consumers and no businesses would make a profit. The price of products is what make people buy the product. If the price is too high nobody would buy it but if it is too low the demand would overtake the supple and you wouldn't make a large profit. But instead you could put the pricing in between and you would make a profit and still have customers buying the product for a reasonable price. The producers have to always be staying up with trends, fashion and peoples wants so people buy their product like when McDonald's changed their meals so people could have a healthy option instead of fries or something. So that is why consumers are the king of the economy.

]]> 2017-05-23 04:13:29 UTC https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173292009 hollc22 https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173292015 Consumers are king in the economy because withought them the producers won't get the money to buy the goods and pay for the services that they use. Or lets say that a company has payed for alot  of supply but then all of a sudden a new trend comes. If they don't react quick enough then not as many people will go to their store. This Lead to that company losing profit from the lack of demand.]]> 2017-05-23 04:13:32 UTC https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173292015 https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173292016 Consumers are king in the Australian economy”
Yes they are the Kings of the Australian economy because they are the ones that make all the decisions/ demands on all the goods and all of the wants. They also are the kings because they use producers for there supply's. Consumers use producers also for their goods and their services. They are the kings because without them the producers wont beabled to money

]]> 2017-05-23 04:13:32 UTC https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173292016 lcardy1 https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173292019 Luke's answer
Consumers are the king in the economy. Consumers need producers and the producers need the consumers.Consumers are the king because the influence what the producers make. Producers need the consumers because they need to make a profit so they can pay for goods and services. Consumers taste and preferences can change quickly with a new trend going around. The only bad thing is that when their is a big demand for a trend there is not always enough supply for it( the economic problem). Consumers are the king of the Australian economy because they influence what producers need to make, eg McDonalds were loosing sales to other fast food places because they were selling healthier foods. So McDonalds started to offer a salad with your Burger to meet the change that the consumers changed. ]]> 2017-05-23 04:13:35 UTC https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173292019 sscarfo https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173292023 2017-05-23 04:13:36 UTC https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173292023 shanc22 https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173292046 Consumers are the king in the economy because they are the ones who keep the economy stable.If there were no consumers that would mean that the economy would die and everyone would be poor and here is an example.If no one bought anything then that means people who have jobs wouldn't make any money because no one would buy anything because there would be no consumers and if there are no consumers there would be no money to be made and if there is no money to be made that would mean that no one would ever buy anything or sell anything meaning no one could sell items because no one would buy the items that would give the company money to buy parts to produce things and then everything would eventually die.That is why we need consumers in today's economy and you can tell that from what I just said and without economy we wouldn't be able to live without economy.Economy is what we need to live otherwise there would be no fidget spinners no tv's no nothing.Thats why we need consumers.Consumer: A person who buys or 'consumes' an item that they have just bought.
Producer:A person who makes something for consumers to buy.Really folks we just have to keep our consumers otherwise we would be in a lot of trouble.I think I have made my point clear.Also,if we want consumers consumers have to buy things don't they.They won't buy things that are too unhealthy leading to maccas.Maccas were very wise when they decided to let us choose if we could have fries or salad.I know best deal ever.Producers really have to think about what they are selling if we want this economy to live for a while longer.That means we have to know what modern trends are and what people want these days.If all shops sold fish,Not many people would buy it because people want Maccas or Tv's or fidget spinners.We need to have a variety in our economy and we have to let the consumers decide what we sell these days or else no one will really buy anything leading to everyone running out of money leading to an eventual apocalypse or certain death because we haven't been able to maintain money.These is why Consumers Have to be king of the economy.]]> 2017-05-23 04:13:55 UTC https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173292046 https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173292117 consumers are king in the Australian academy because they are the one who makes money. consumers and producers have to work together to make profit. if the consumer dont work with the producers, they will lose money and they will also lose the business.  ]]> 2017-05-23 04:14:30 UTC https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173292117 gcollins11 https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173292243 Consumers are considered the 'King of the economy' because they influence the goods and services of the producers by having tastes and preferences. When a good is popular and is trendy the producers might start making that product or change what they sell. The demand of the consumers wants are unlimited and the supply of the good is only limited, that is called the 'economic problem'. For example: McDonalds changed their menu by adding a salad option to their meals which appealed to people and suited more people. Producers always try to satisfy the consumers unlimited wants and therefore will go on forever.

]]> 2017-05-23 04:15:36 UTC https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173292243 reidt22 https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173292250 Consumers are king because they indirectly influence what is made and how much of it is made. This happens because produces have to keep up with consumer demand to stay on top of the heap. Producers stay on top by keeping the supply of items up and the cost low. They do this by adjusting what they sell. They keep the cost low by adjusting the price to what consumers are willing to pay. They regularly put sales on items that everyone buys. For an example of a business changing to accommodate consumers wants is when McDonalds put salads on the menu for a healthier option.]]> 2017-05-23 04:15:39 UTC https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173292250 caldt22 https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173292294 Consumers are the king because they just use and take ever thing there is. everyone is a consumer because you eat and drink and use all those other thing you want and need and look at all the fast food, places they go though alot  of food a day and they just consuming all the resources there are in the world and I am talking about all the big fast food place MacDonalds and hungry jack KFC and red rooster.]]> 2017-05-23 04:15:55 UTC https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173292294 https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173292297 Consumers are the king of the Australian economy because without them there would be no economy, for example McDonalds is a popular fast food 'restaurant' and lots of consumers go there to satisfy their wants the producers of McDonalds knew that if they put in lots of junk food on their menu lots of consumers would come to spend their money on unhealthy food. Everyone is a consumer as everyone buys products such as toys, food, games and so on. You need the consumers as much as you need the producers. Consumers will buy what ever they're able to pay for and to satisfy their day to day wants.]]> 2017-05-23 04:15:57 UTC https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173292297 https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173292333 Consumers are king in the economy because they are the people who keep the economy running if we did not have consumers no-one will be buying anything and the economy wouldn't run anymore.Producers are inter dependent on the consumers because then the producers would not get anymore money.Take MacDonalds for example if they did not have any consumers they wouldn't get any money and then the business will shut down.Producers make sure that consumers buy there products they do this by changing there products regularly to satisfy the consumers wants. Mcdonalds have changed there products by adding healthier options so they can help people to become healthier and invite knew people that only want to eat healthy.This is an example of a company satisfying consumer wants this is why consumers are at the top of the ladder in economics.Many other companies have changed there products to satisfy consumers wants.Consumers wants can change if there is a trend going around so then places need to add that trend to there store.This is a paragraph on why consumers are king.]]> 2017-05-23 04:16:16 UTC https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173292333 https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173292539 Consumers are King, meaning that without the consumers producers would fail and consumers are needed in the economy, without consumers, producers would have nobody and nothing to sell their goods and services to. Producers also need to know consumers tastes and preferences because this is usually what needs and wants depend on, buisenesses also make their prices due to consumers and their supply and demand,  meaning they must know what consumers are looking for in a product and their desire to have it, if consumers want it more than prices will go up as they are on higher demand and hard to get. So really everything a firm sells and what to sell it for depends on the consumers otherwise they would not make much profit. McDonalds changed their menu to a healthier one to satisfy consumers and to try and respond to previous comments and reactions to the fast food restaurants eating choices, the firm tried to attract more people by using their wants and needs to invite and welcome more people and so they added extra products which led to them becoming more popular, without knowing what consumers desired to have then the buiseness could not have known to change the menu or how to make those changes. So that is why Consumer is King.]]> 2017-05-23 04:18:13 UTC https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173292539 https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173292628 Consumers are king in the Australian economy because if the consumers don't buy goods and services from the producers then the producers will run out of money. The producers will run out of money because no one is willing and able to pay the price of what they are planning on buying. Mc Donald's had to change there menu because there were to much calories and some people wanted more healthier food. If consumers don't buy things then every place will be broke and then the government have to come in to try and fix it but if the government cant fix it then all business will shut down like Red Rooster. Producers try to sell the things that are in trend right now like how fidget spinners got popular really quickly so most places are trying to sell them. ]]> 2017-05-23 04:19:02 UTC https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173292628 https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173293811 Consumers are the king in the Australian economy because. Firms all across Australia produce products that meet the demand and wants of people. Consumers keep the Economy running. Without consumers firms will go bankrupt. It's like the food chain a consumer goes and buys something then that money is for the company then the firm pays the workers, then the workers would go and buy something else so it's a circulation. The word Interdependence means that firms reliy on consumers and consumers reliy on firms. Example consumers go to the shops and buy things then the money they pay goes to the firm then the firm uses that money to buy new products. Then consumers reliy on shops to keep restocking items that they need or want, but the firm can't do that without the profit they get from consumers. Another example is McDonald's, they added the choice of a salad with a burger instead of just fries to meet the wants/demands of the consumers. I belive Mc Donald's changed their choices because  people might be gettting to fat, or consumers might want to cut calories as well. Lastly some company's are struggling to produce enough products to meet the demand of consumers Because consumers wants are unlimited but resources aren't.

]]> 2017-05-23 04:29:53 UTC https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173293811 https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173294163 Consumers are king in the Australia economy. Consumers are king of Australia because consumers are the people that buy goods or services of the producers, then that money goes back to the producer, the producer can use the money to creat more stuff for their customers.the price of the products are a choice by the trend, season, taste and preferences. For example MacDonalds used to only sell fries as a side dish  and now the consumers have a choice between fries or a salad. One of the reasons why MacDonalds choose to change that was because the competition, that had  healthier options and consumers choose the healthier option so MacDonalds choose to put in salad in the menu to keep up with the competition.]]> 2017-05-23 04:33:12 UTC https://padlet.com/tjohnson66/ncrjj043ofhs/wish/173294163