Consumer Education quiz

What is Consumer Awareness?

• Consumer awareness is about making the consumer aware of his/her rights.It is a marketing term which means that consumers are aware of products or services, its characteristics and the other marketing P's.

• A term thats used to define the prinicpals of a budget.

• A term considering the characteristic of another person.

• A method to buy a car to be able to lease and not pay with a card.

Feeling regret or concern after making a large purchase.

• Financing

• Opportunity Cost

• Buyer's Remorse

What is Caveat Emptor?

• The principle that the buyer alone is responsible for checking the quality and suitability of goods before a purchase is made.

• A random word that is used in place of consumers.

• The process of communicating the value of money to customers.

• the value of the goods bought by the consumer

The ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future ______________

Answer explanation

Credit

A transaction in which no physical product is transferred from the seller to the buyer. It cannot be touched _____________

Answer explanation

service

it is intangible

One who buys and uses goods and services for his personal use is BEST known as a

• Customer

• Client

• Buyer

• Consumer

Consumerism refers to all activities and institutions that protect the rights of

• the consumers

• the government

• the people who price goods and services

• the producers of goods

The world is becoming a smaller space as a result of trade and cultural exchange. This process is BEST known as:

• world market

• open market

• new trade

• globalization

There are tangible materials that satisfy human wants and provide utility. These are physical items known as___________

• goods

• services

• consumption

• customer

Consumption is the act of _____________.

• using or buying goods and services

• making a purchasing decision

• designing a budget

• spending money