Finance Test (Lessons 1-3)

A trade-off is giving up one thing for another.

• True

• False

Sam is a cashier at the local grocery store. He earns $8/hr and works there 10 hours per week. Every week, he puts 75% of his money in a savings account so he can reach his goal of having $1,000 as an emergency fund.

1-How much does Sam earn in one week?

2-How much does Sam put away in his savings account every week?

• 1- $80.00

  2- $60.00

• 1- $90.00

  2- $60.00

• 1- $87.00

  2- $50.00

• 1- $100.00

  2- $80.00

When __________ shopping, a person can decide which features are important and find the best option to meet your needs.

 When you use a ______you feel happy when getting a good deal. A study revealed that a $10 coupon increased shoppers’ oxytocin (hormone that produces feelings of love) level by 38%, decreased their heart rates 5%, and made more relaxed while shopping.

• Discounts

• Promotions

• Coupon

• Power of Free

1. _________ encourage new trials. Most shoppers do not want to pay full price to buy something they have never tried before or don’t know much about. But, if you offer this, they are more likely to buy a new product.

• Coupons

• Promotions

• Power of Free

• Discounts

_________ influence purchases. Two-thirds of consumers say they have made a purchase they did not actually plan to make just because they received this.

• Discounts

• Promotions

• Power of Free

• Coupons

1. Shoppers love this! Samples allow people to try new things and also start the relationship positively. The same is true when stores give a “gift with purchase.” People view the store as generous, increasing brand loyalty and sales.

• Coupons

• Discounts

• Power of Free

• Promotions

Downtown Boutique is having an end of season sale. Jeans are on clearance with an additional 30% off the sales price. Leah finds a pair she loves in her size. The original price was $70.00, but the jeans are on clearance for $50.00. How much will the final cost be? 

• $35.00

• $45.00

• $30.00

• $25.00

1. What store is this receipt for?

• Walmart

• Dollar Tree

• Target

• Food Lion

1. What is the subtotal?

• $113.17

• $125.31

• $120.67

• $125.00