F24 - Consumer Spending - Classroom

Front

When buying product on-line, it is better to use a credit card than a debit card.

Back

True

Front

Which of these is the LAST step in the Planned Buying Process: Evaluate spending plan, Research product and seller, Make the purchase, Prioritize Wants and needs

Back

Make the purchase

Front

Which of these should NOT be important when deciding whether to buy something?
Options:
What is the opportunity cost?
Will my friends be impressed?
What is the cost of ownership?
What is the per unit cost?

Back

Will my friends be impressed?

Front

True or False: After you decide to spend your money, you should understand how that decision fits with your overall spending plan.

Back

False

Answer explanation

You need to check out your budget BEFORE you spend you money on something.

Front

True or False. Durable goods provide a stream of services to the user over a period of time and does not quickly wear out.

Back

True

Front

Who is responsible to make sure that you are getting a good price when you buy something: You, The seller, The state government, The federal government, None of these

Back

You

Answer explanation

That is YOUR job!

Front

Which of these is the key to getting a good price: Negotiate with several sellers, Compare the sales price with the sticker price, Both of these, Neither of these

Back

Negotiate with several sellers

Front

If you buy 2 Monsters at QT for $4, what is the cost per unit:

Back

$2

Front

If you pay $4 at Wendy's on a 4 for 4, your net worth will immediately go down by:

Back

$4

Front

True or False. Consumable goods are assets.

Back

False

Answer explanation

Consumable goods are expenses.