Consumer Skills Review

Which statement best describes how to comparison shop?

• Buy many brands of the same item, see which you like best, and return all the rest

• Set a budget, decide what features you want, and see which stores/brands best fit your needs

• Visit many stores and ask the salespeople to lower the price until one offers something you can afford

• Start your own website that compares the current store prices of items you shop for regularly

You're going to buy a new bicycle. What should be one of your first steps in comparison shopping?

• Decide what bicycle features you care most about

• Visit the store that sells the least expensive bicycles

• Locate a coupon for bicycles

• Sell your old bicycle

Randall needs to make two purchases today -- a box of donuts to share with his homeroom and a pair of running shoes for the upcoming track season. For which item should he do MORE comparison shopping?

• Neither -- both of these purchases are very easy

• The donuts -- because he wants to get a lot of flavors

• The shoes -- because they need to fit well and last for the whole season

• Both -- you should comparison shop for every item you

Sofia wants to buy a new pair of jeans. At Pants World, the jeans she wants cost $40 and they're having a 25% off sale. At All Clothes, the same jeans cost $38 and she has a $6 off coupon. What is the best deal?

• Purchase at Pants World, because the cost after discount will be $15

• Purchase at Pants World, because the cost after discount will be $30

• Purchase at All Clothes, because the cost after coupon will be $32

• Purchase at All Clothes, because the cost after coupon will be $34

A popular promotion at stores is "Buy One, Get One Free." Why do stores offer this deal to their customers?

• Stores promote the deal but make you pay for the second item anyway once you're at the cash register

• Stores make money because you still have to pay taxes on the second item

• Most stores are not trying to make a profit, so it doesn't matter if they give away free items

• Great deals convince customers to buy things they don't need and stay loyal to the store or brand

On a restaurant receipt, you will commonly find each of these items EXCEPT...

• The date and time of your dining

• The total cost of your food and drinks

• The tax and tip that were added to your bill

• The total money in the bank account you used to pay

Naya has done a lot of shopping recently. Which receipt should she probably keep the longest?

• CVS receipt for a juice and a pack of ponytail holders

• Mall store for 5 shirts and 2 pants, all of which she's tried on and fit

• Restaurant receipt for sandwich, salad, and lemonade

• Target receipt for bluetooth headphones for her and a popular toy for her niece's birthday

Complete this sentence: A checking account statement...

• is the receipt you get from a store when you purchase something using a check

• tells you the bank's policies on fees

• lists all the purchases and deposits you've made in the previous month

• allows you to take out a student loan for college

Which of the following transactions will REDUCE the amount of money in your checking account?

• Deposit a check your uncle gives you for your birthday

• Use your debit card to get money from an ATM

• Buy an expensive new bike using cash

• Transfer funds from your saving account to your checking account

What do you need in order to open a checking account?

• A form of ID and proof of address

• At least $50 saved up

• A report card showing you've passed all your classes

• Two letters of recommendation