Introduction to Money Mindsets

Which is NOT a purchase-decision question that consumers should ask themselves before making a purchase? 

• What profit will business make off of this purchase?
• Do I really need this?
• Can I afford it right now?
• Is there something less expensive that meets the same goal?

When making a large purchase, considering return on investment means comparing the potential profit in relationship to the amount spent. 

• True
• False

Prices of goods, including used appeal, is determined by the relationship of: 

• Supply & Demand
• Opportunity & Alternatives
• Debit & Credit
• Interest & Inflation

An example of a marketed pricing strategy used by businesses is listing an item at $6.99 instead of $7.00

• True
• False

To avoid fraud, individuals should protect their PII, which includes name, date of birth, and social security number, and stands for: 

• Personal Identifiable Information
• Protected Investment Information
• Potential Individual Information
• Pertinant Intelligent Information

What is the term for the maximum amount a person is willing to pay for a product or service?

• Demand Price

• Supply Price

• Market Price

• Inflation Price

Which of the following is NOT a factor that influences consumer buying behavior?

• Personal Income

• Product Quality

• Brand Reputation

• The CEO's Sign

What does the term 'Credit Score' refer to in the context of personal finance?

• A measure of a person's ability to repay debts

• The total amount of money a person has borrowed

• The interest rate on a person's mortgage

• The amount of money a person has in their bank account