Chapter 6 -Personal Finance Review

A person who buys things

• Worker

• Entrepreneur

• Consumer

• Merchant

An unplanned purchase, generally spurred by advertising or emotion

• Impulse purchase

• Significant purchase

• Sale purchase

• Incentive purchase

The main federal agency designed to enforce consumer protection laws

• Federal Deposit Insurance Corporation

• Federal Trade Commission

• North American Free Trade Agreement

• Securities Exchange Commission

Something that motivates or encourages someone to do something

• Buyer’s remorse

• Supply and demand

• Contentment

• Incentives

The paid display of specific products in stores, movies, television, and media

• Product placement

• Marketing

• Brand loyalty

• Incentives

Which of the following is an example of an economic incentive

• Debit card purchase

• Inflation

• Online sales or discounts

• Buying something for a friend

Everything a company does to get consumers to buy their product

• Brand loyalty

• Marketing

• Customer loyalty

• Impulse purchasing

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

• What is sold in discount stores

• Teens only spend money on things they need

• Peer pressure

• When adults are around buying them

Being satisfied with what you already have

• Discontentment

• Greed

• Happiness

• Contentment

On which of the following do teens spend the most money?

• Accessories (like jewelry)

• Clothing and food

• Electronics

• Entertainment