Everfi- Financial Literacy Lesson 4

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

How is an advertisement different from a comment from a regular consumer?

• It isn’t any different.

• The advertisement is likely one-sided.

• The advertisement may have been posted by the seller.

• The advertisement is made by an influencer who gets paid.

How is a post from a social media influencer different than a comment from a regular consumer?

• It isn’t any different.

• The post by the influencer is likely one-sided.

• The post by the influencer may have been posted by the seller.

• The influencer is paid to post the product.

Which of the following is NOT a useful strategy when making an informed purchase?

• Calculate the unit price of the product.

• Purchase a product based on a social media influencer.

• Read the online reviews of the product and ask trusted friends who use it.

• Compare your option to similar products.

What is the unit price of an item?

• The price of a group of items

• The price of a single item within a group of items

• The price of half the items

Why is figuring out the unit price of something useful when shopping?

• It helps you check to see if the price is correct.

• It helps you locate items in the store.

• It helps you determine the best deal.

• It determines if a coupon is still usable.

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 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