Foundations in Personal Finance Chapter 6

Caveat emptor means...

• Buyer Beware

• Seller Beware

• A delicacy at a nice restaurant - raw fish eggs and buying them is a want not a need

• An empty cave

Tags

CCSS.RF.5.3A

CCSS.RF.4.3A

CCSS.RF.3.3C

CCSS.RF.3.3D

CCSS.RF.3.3B

The people of which country live in a culture that are marketed to more than any other others in the history of the world?

• Canadians

• Germans

• Australians

• Americans

Tags

CCSS.RI.11-12.1

CCSS.RL.11-12.2

CCSS.RL.9-10.2

CCSS.RI. 9-10.1

CCSS.RL.8.1

To buy an item with credit; paying over time

• opportunity cost

• branding

• marketing

• financing

Refers to the public's ability to recall and recognize a brand by its logo, jingles, and packaging

• buyer's remorse

• brand recognition

• memory

• puppy - monkey - baby

Tags

CCSS.RI.11-12.5

CCSS.RI.11-12.8

CCSS.RI. 9-10.8

CCSS.RI.9-10.5

CCSS.RI.8.5

How do you know if you can afford something?

• If your credit score allows you to finance it

• if you can pay cash for it

• if you can pay it off within a year

Which of the following is NOT a need?

• Housing
• Eating Out
• Utilities
• Food

The purpose of advertising is to:

• Tease the consumer
• Persuade the consumer
• Inform the consumer
• All of the above

Tags

CCSS.RI.11-12.8

CCSS.RI.11-12.5

CCSS.RI. 9-10.8

CCSS.RI.9-10.5

CCSS.RI.8.8

When a company places an ad and offers NO interest on your purchase for three years:

• They are not interested in making a profit
• They are showing their appreciation to you by giving you free money
• The cost of the financing is built into the price of the item
• All of the above

Dave tells the story of a man who bought his dream car, drove it home, but then returned it the next day after some money calculations. This story is an example of:

• Brand Recognition
• "Be backs" in the car business
• Buyer's Remorse
• Opportunity Cost

Which of the following should you consider when making a significant purchase?

• Your buying motives
• If you can't pay with cash, don't buy it
• The opportunity cost
• All of the above