Lesson 4- Consumer Skills EverFi

When you are deciding what to buy, you should not...

• compare the unit price of similar items.

• read reviews from unbiased sources.

• assume that buying the cheapest item is the smartest choice.

• wait for sales to get the best price.

Making a good purchasing decision requires __________.

• comparing the prices of similar items

• reading reviews of the product

• waiting until the product is on sale, if possible

• All of the above

What is one of the best ways to get reliable information about a product?

• Follow a social media influencer

• Look for the advertisements

• Search online reviews

• Ask someone who has never used it

Which example shows an advantage of owning a car over leasing one?

• Smaller monthly payments and a good warranty to cover repairs

• Expiring warranty means that you will get to handle repair payments.

• No restrictions on the number of miles to drive and the ability to customize, or make changes to the

  car.

• You will drive a fairly new car for a limited period of time.

What is the best reason why someone would want to lease a house instead of buying one?

• They want full responsibility for all repairs.

• They want to be able to hopefully make money when they sell the place.

• They are planning on living there for a short period of time.

• They want to avoid rent increases and dealing with a landlord.

A pack of 24 pencils is more expensive than 12 pencils, but why could buying the 24 pack be the better deal?

• The price of each pencil, or the unit price, is actually cheaper in the 12 pack.

• The price of each pencil, or the unit price, is actually cheaper in the 24 pack.

• The 24 pack comes with a carrying case.

• This statement is false. Buying fewer pencils will always be a better deal.

Which payment option is not accepted online?

• Cash

• Check

• Debit Card

• Credit Card

Which payment option takes money out of your bank immediately?

• Cash

• Check

• Debit Card

• Credit Card

Which payment option could have interest charged to you?

• Cash

• Check

• Debit Card

• Credit Card

When making a large purchase, you should avoid everything EXCEPT _______________________

• excessive fees.

• being forced to buy additional warranties

• add-ons that seem too good to be true.

• a price that fits comfortably in your budget.