Consumer spending and saving

Consumer spending and saving

Fill in the Blanks

consumer --------- is the total money spent on final goods and services by individuals and households for personal use and enjoyment in an economy. consumer spending includes --------- goods, nondurable goods, and services.

Multiple Choice

in some ways, all consumers are alike. This is because all consumers...

• have similar tastes and wants

• share the same religious views

• are of the same age

• buy to satisfy their needs

Multiple Select

Higher the Rate of interest means higher

• Saving

• Spending

• Both

Open Ended

Identify the factors affecting saving?

Open Ended

Explain the saving and spending pattern of rich and poor

Multiple Choice

Which is good advice for saving and spending money?

• Spend all of your allowance as soon as you earn it.

• Use a budget to plan how much money you can save.

• Try to buy things that you want before the things that you need.

• Buy things you use only once, and then throw them out.

Multiple Choice

Moby saves 10¢ every day. How much will he save up in a week?

• 10¢

• 25¢

• 50¢

• 70¢

Multiple Choice

Why is it important to save money?

• to waste it

• to be prepared for future needs

• to buy useless items

Open Ended

Distinguish between transaction and precautionary motive

Open Ended

Ahmed earns 100,000. He Spent 60% on Luxuries and 20% on necessities

Calculate the actual and % of income spent and saved by Ahmed