Shrink-flation Quiz

What is shrink-flation?

• A type of packaging

• A type of food fraud

• A sneaky cousin of inflation

• A type of inflation

Answer explanation

Shrink-flation is a sneaky cousin of inflation. It refers to the practice of reducing the size or quantity of a product while keeping its price the same, effectively increasing the cost per unit.

Which of the following items are affected by shrink-flation?

• Pasta sauces and jams

• Fruits and vegetables

• Electronics and gadgets

• Cleaning products and detergents

Answer explanation

Shrink-flation affects pasta sauces and jams. Other items listed are not affected.

How do Liam, Samuel, and Abigail manage shrink-flation?

• By decreasing prices

• By increasing prices

• By offering more quantity

• By maintaining the same prices

Answer explanation

Liam, Samuel, and Abigail manage shrink-flation by increasing prices to counteract rising costs and maintain profit margins.

Why is it challenging for shoppers like Arjun, Mason, and Evelyn to compare prices of items affected by shrink-flation?

• Due to different brands

• Due to different packaging

• Due to varying quality

• Due to lack of information

Answer explanation

Shoppers like Arjun, Mason, and Evelyn find it challenging to compare prices of items affected by shrink-flation due to lack of information.

What is the recommendation of the Consumers Council of Canada regarding per-unit pricing, according to Aiden, Aria, and Henry?

• To leave it as it is

• To have a national standardized approach

• To abolish per-unit pricing

• To have a provincial standard

Answer explanation

The Consumers Council of Canada recommends a national standardized approach for per-unit pricing.