Unit 2 Personal Finance

Which of the following is NOT true about payday loans?

• Long-term

• High interest rates

• usually a small amount of money

• A short time to pay the loan back

Criminals often install these devices on machines to record your credit card information

• Surfers

• Skippers

• Skimmers

• Swipers

This organization set standards in the marketplace and works to prevent fraud

• FTC

• BBB

• Consumer Reports

• CPSC

Which government organization is responsible for protecting the public health by assuring the safety, efficacy, and security of human and veterinary drugs, biological products, medical devices, our nation's food supply, cosmetics, and products that emit radiation.

• BBB

• FTC

• FDA

• CFPB

It is illegal for a landlord to refuse to rent to you because of your

• race

• gender

• religion

• disability

• All of these

Thorstein Veblen first wrote about this phenomenon in his book The Theory of the Leisure Class. It detailed how people bought stuff to show off their money. This is called

• Consumerism.

• Conspicuous Consumption.

• Buyers Remorse.

• Capitalism.

True or False. Buying a brand new car to keep up with your neighbors is an example of conspicuous consumption.

• True

• False

Which of the following is a reason way you could be evicted?

• Not Paying your rent

• Failure to pay rent on time

• Breaking rules, such as having a pet when the lease says no pets

• All of these

The Welch family has saved some money.  They can spend it on a vacation to the Grand Canyon or build a swimming pool in their back yard.  They decide to spend the money on a swimming pool.  What is the opportunity cost of their decision?

• vacation 
• swimming pool 

When you make a choice, you often have to give up other options...those things are called the...

• Opportunity Cost

• Missed Opportunities

• Misused Resources

• Scarce Options