Ch 6 Consumer Awareness

Match the following

• caveat emptor

• significant purchase

• spend $60 on the latest video game, or give $60 to charity

• opportunity cost

• wait ___ before making a major purchase

• overnight

• an amount of money that causes some pain

• buyer beware

Match the following`

• number of advertisements a person views daily

• 3,000

• creates consumer awareness for a trademark or product

• financing

• borrowing money and paying over time

• counsel

• seek wise ___

• branding

Color is a product positioning technique used to get the buyer’s attention.

• true

• false

Advertising slogans that have been around for a long time no longer work.

• true

• false

Answering a question with a question is the sign of a well-trained salesperson.

• true

• false

Typically, 90-days-same-as-cash contracts convert to payments with interest up to 24% APR.

• true

• false

The opportunity cost of purchasing a new cell phone could be the purchase of a spring break trip.

• true

• false

Is the following a want or a need:

Cable television: ​ (a)  

Utilities: ​ (b)  

New cell phone: ​ (c)  

• want
• need

Is the following a want or a need:

Groceries: ​ (a)  

Housing: ​ (b)  

The latest in fashion: ​ (c)  

Transportation: ​ (d)  

• need
• want

Never buy something you do not fully understand.

• true

• false

Tags

NGSS.MS-PS1-3