Unit 2 Consumer Skills

What should be one of your first steps in comparison shopping?

• Set a budget, decide what features are most important to you, and see which stores/brands best fit your needs.

• Visit multiple stores

• Read customer reviews

• Compare prices online

For which item would you do more comparison shopping if you are going to make two purchases-- a box of donuts and a pair of running shoes?

• Box of donuts

• Neither item

• Both items equally

• Pair of running shoes

How do you determine the better deal when buying something that is percentage off versus something that has a discount off coupon?

• Discount off coupon

• Both deals are the same

• % off is always more

• Figure out the % off and compare it to how much the coupon gives off.

"Buy One, Get One Free"-- Why do stores offer this deal to their customers?

• Great deals convince customers to buy things they don't need and stay loyal to the store or brand

• To increase sales

• To give excess inventory away

• To lose money

Why should you keep receipts?

• For warranty purposes

• All of the above

• To return or exchange items

• To track your expenses

What is a checking account statement?

• A record of all your transactions

• A document to open a checking account

• A list of available banking services

• A summary of your account balance

What are different ways to REDUCE money in your checking account?

• Deposits and transfers

• Use your debit card to get money from an ATM

• Buy an expensive new bike using cash

• Deposit a check your uncle gives you for your birthday

What do you need in order to open a checking account?

• Minimum deposit amount

• Social security number

• All of the above

• Proof of identity and address

If you use a mobile wallet app at a store, how do you pay for the item?

• Swipe a card

• Hold your smart phone up to the terminal

• Pay with cash

• Write a check

What is the primary difference between a prepaid card and a gift card?

• Prepaid cards can be used at many different stores, but gift cards are usually for a specific store

• Gift cards have no expiration date and can be used at all stores

• Prepaid cards can be used online and only once

• Gift cards can only be used internationally