Community Living- Formative 1

What is another word for a guarantee that a product meets certain standards of quality?

• Promise
• Warranty
• Deal
• Sale

2. Which of the following is NOT an example of consumer fraud?

• Computer Fraud
• Repair Fraud
• Theft
• Phony Prize Notifications

3. What do you call dishonest business practices used by those who are trying to trick or cheat you?

• Consumer Fraud
• Warranties
• Lying
• Discounts

4. What is the illegal sales practice in which a lower-priced item is used to attract customers who are then encouraged to buy a similar product at a higher price?

• Advertising
• Consumer Protection
• Consumer Fraud
• Bait and Switch

5. What is the term for the study of how people produce, distribute, and consume goods and services?

• Logistics
• Free Enterprise
• Consumption
• Economics

6. One factor that makes prices go up and down is:

• Recession
• Economics
• GDP
• Supply and Demand

7. An example of consumer fraud is: 

• Shopping at discount stores
• Timing purchases
• Phony Prize Notifications
• Searching for a good deal

8. When unemployment is low...

• there is a lower standard of living
• the economy is not doing well
• fewer people are looking for work

9. An example of a producer of a SERVICE is:

• A pet-sitter
• A t-shirt maker
• A factory worker
• A farmer

10. An example of a producer of a GOOD is:

• A construction worker
• A dentist
• A doctor
• A teacher