Finance Chapter 6 Unit Test

A person who buys things:

• Worker

• Entrepreneur

• Consumer

• Merchant

An incentive purchase is generally spurred by advertising or emotion.

• True

• False

The main federal agency designed to enforce consumer protection laws:

• Securities Exchange Commission

• North American Free Trade Agreement

• Federal Deposit Insurance Corporation

• Federal Trade Commission

Something that motivates or encourages someone to do something:

• Supply and demand

• Buyer’s remorse

• Contentment

• Incentives

The feeling you get when you make a purchase and regret it:

• Supply and demand

• Buyer’s remorse

• Contentment

• Incentives

Product placement is the paid display of specific products in stores, movies, television, and media.

• True

• False

Which of the following is an example of an economic incentive?

• Debit card purchase

• Inflation

• Buying something for a friend

• Online sales or discounts

Everything a company uses to get consumers to buy their product is called brand loyalty.

• True

• False

Which of the following often impacts teen spending decisions the most?

• What adults around them are buying

• Peer pressure

• What is sold in discount stores

• Teens only spend money on items they need

Being satisfied with what you already have:

• Contentment

• Happiness

• Greed

• Discontentment