Intro to Business - Chapter 22 Review

Prices for many items change during different times of the year.

• True

• False

Comparison shopping is most important for major purchases because the difference in cost can be significant.

• True

• False

Impulse buying is rewarding because there are bargains that shoppers should not ignore.

• True

• False

When shopping, making choices

• is always risky

• should not be a problem

• is not always easy

• takes a long time

A plan that specifies how resources (such as money) will be allocated is called a

• Share of stock

• Bond

• Budget

• Checking account

An example of a generic product is

• Kleenex® facial tissues

• frozen vegetables in a plain white bag

• a Burger King® chicken sandwich

• a Nike® shoe

Foot Locker®, PetSmart®, and Ace Hardware® are examples of

• Brand names

• Limited-line retailers

• outlet stores

• discount stores

Consumers often get the best price when they

• postpone or plan when to make a purchase

• buy products when the demand for them is the greatest

• buy in small quantities

• buy at a chain store

An example of emotional advertising would be an ad

• showing the ingredients of a product

• indicating that by purchasing the advertised product you would be considered cool

• comparing gas efficiency in cars

• indicating that a product has a guarantee

Making an unplanned purchase is called

• Impulse buying

• Thoughtful buying

• Bargain hunting

• Consumerism