Everfi-Finacial Literacy Lesson 4 Consumer Skills

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...Select all that apply

• make sure you have the money in your budget

• comparing the prices of similar items

• reading reviews of the product

• waiting until the product is on sale, if possible

When you are deciding what to buy, you should...

• pick the cheapest item to get the best deal.

• pick the most expensive item to get the best quality

• trust influencers to pick the best items for you

• compare the unit price of items similar to the one you want.

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

Which example shows the advantages 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.

Which of the following is NOT an advantage of owning a car? a. b. c. d.

• Yours to keep and sell when you wish

• Flexibility to be able to customize it

• Drive an unlimited number of miles

• Smaller down and monthly payments than leasing a car

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

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

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

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

• They want full responsibility for all repairs.

The price of a single item within a group of items is known as the ______________ ofthe item. a. b. c. d.

• group price

• item price

• unit price

• total price

Why is figuring outthe unit price of something useful when shopping? a b. c. . d.

• . 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.

Which payment option takes money out of your bank immediately?

• Cash

• Check

• Debit Card

• Credit Card