September 17, 2021

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Terms for financial consumers to understand

Emily wedding

Do you remember studying the food chain when you were in school? Everything starts with the sun. Plants absorb this energy and use it to produce their own food. Hence they are called producers. Then some animals eat these plants for their energy and are called consumers. Other animals consume these animals and so on.

I thought this week that in my previous role as an Agriculture and Natural Resource Instructor I used the term “producer” a lot. We call farmers and gardeners producers because they make food for the rest of us.

Now I can focus on the consumer side of things. Family and consumer studies examine habits and identify best practices for sensible consumption. We may think immediately about the consumption of food and drinks, but this also includes our savings and consumption behavior.