Foundations Chapter 7 and Trivia

Which of the following is true about the "If I take-away technique?

• This technique involves negotiating the lowest price possible, then throwing something else into the deal.
• This technique should only be use when the "good by, bad guy" technique is used on you.
• This technique is meant to take advantage of the other person in the negotiation.
• Use this technique prior to negotiating price.

Joe tries to bargain at an electronics store but is unable to negotiate the price down. What should be his next step?

• Ask about 90-days-same-as-cash
• Shut up
• Walk away
• All of the above

Which of the following describes why using cash is a great bargaining tool?

• Cash is emotional.
• Cash is visual.
• Cash has immediacy.
• All of the above.

Which of the following is typically not a good place to find a deal?

• Online auctions
• Consignment shops
• Individuals
• Mall

Which of the following is not recommended when selling something you own?

• Find an uninformed buyer and charge the highest price possible.
• Be armed with information so that you can be sure it's a win-win deal.
• Get antiques or collectible items appraised and sell them slightly below that price.
• Make it clear that, as a seller, you have walk-away power.

Which of the following is not recommended if you are trying to make your money go further?

• Buying clothing at end-of-the-season sales
• Buying only name-brand products
• Negotiating for a lower price
• Comparison shopping

Using cash gives you more bargaining power than using credit.

• True
• False

Being married to a purchase will cause you to lose bargaining power.

• True
• False

The ability to walk away from a purchase when negotiating

• walk-away power
• buyer's advantage

Type of yard sale with more items, usually the entire contents of a household

• pawn shop
• estate sale