Financial Decisions

Specific objectives that are accomplished through financial planning

• financial goals
• financial planning
• financial well-being
• well-being

For a major purchasing decisions, consumers need to: (which one is incorrect)

• Identify needs and wants

• Collect information about products options

• Evaluate the product alternatives against a set of criteria

• Make purchasing decisions that consider the short- and long-term financial consequences

• Buy the first product you see because you like it

What are opportunity cost

• How much it cost to buy something

• what you give up in order to get something else

If something is sold at half price, it is sold at....

• 50% of the price

• 25% of the price

• 75% of the price

• 30% of the price

Evaluating similar items to check quality and price is ....

• comparison shopping
• impulse buying
• consumerism
• stinginess

Where should you look to find similar products at different prices?

• Clearance

• Top/bottom shelf

When you comparison shop you can save money.

• True

• False

Be sure to check the products features, as this determines the quality.

• True

• False