Consumer Affairs-Re -CAP

What do we call a plan which estimates income and expenditure over a month

• Thrift

• Credit

• Budget

• Savings

Which of the following is NOT a way of saving?

• Bank Account

• Sou- sou group

• House insurance

• Credit union

Which of the following is NOT an aspect of thrift?

• Caring for household goods

• shopping wisely

• earning money

• recycling

A patronage refund is usually offered by:

• building societies

• investment bonds

• friendly societies

• credit unions

Which is the best definition of the term' exchange rate"?

• the reserves of foreign currency held by a national bank

• the rate at which one currency is exchanged for another

• any currency apart from local currency

• the rate at which you can buy US dollars

What term is used for a continued fall in prices of goods and services over a period of time?

• retrenchment

• inflation

• deflation

• devaluation

If there is a rise in the value of the East Caribbean dollar on world markets this would result in:

• falling prices for imports

• falling values for exports

• increased demand for exports

• reduced demand for imports

Which of the following is NOT a likely cause of retrenchment?

• falls in demand

• scarcity of essential raw materials

• devaluation

• increased investment

Which aspect of globalisation does NOT benefit consumers?

• increased use of technology

• more competition for Caribbean markets

• wider choice of goods and services

• cheaper goods and services

What is one reason why people save money?

• to pay for unexpected costs in the future

• to pay for everyday essentials

• to avoid taxes

• to increase government revenue