a. The principle of the consumer economy
consumers always have the will to get the goods and services that are best with the cheapest price. This occurs because consumers are always faced with a very limited income, then a consumer has always sought to use the optimum revenue so that all needs can be met.
The condition can be done by considering the following:
1. compiling a list of items needed to perform alternative actions
2. determine quality goods at cheap and affordable
3. not easily attracted to things that might not have the time to have
4. always consider spending with income.
b. Economic principles merchant or seller
traders always try to profit as much as possible although sometimes harm others (buyers).
A trader should pay attention to the following principles:
1. trade goods needed by the people at an affordable price
2. trade in goods quality, does not disappoint, and give satisfaction to the consumer
3. trying to obtain goods at a low price to maximize profits by taking into account purchasing power
4. provide good service and do not intend to deceive consumers
5. trade in legal goods.
c. Economic principles manufacturer
every manufacturer always make every effort to maximize profits by using the means and instruments of production owned.
To that end, manufacturers need to pay attention to the following:
1. observing the items needed and appreciated by the public
2. produce goods with minimal sacrifice, but still consider the quality of the
3. determine the price of goods to obtain maximum profit with respect to purchasing power
4. distribute their products and should not be stockpiled.
Benefits of economic principles
In general, the application of economic principles in everyday life means it has to make savings, while those who do not apply the principle of economic means have waste because of economic action without calculation.
Significant economies of scale in particular that:
a. Preventing the waste of resources
b. Meet the needs of regular and planned
c. Minimize any risk in any economic action taken.
