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Which of these is the correct order of the Process of Decision Making?

• Need Recognition - Evaluate Alternatives - Information search - Post-Purchase Behavior - Purchase Decision

• Need Recognition - Information Search - Evaluate Alternatives - Purchase Decision - Post-Purchase Behaviour

• Need Recognition - Evaluate Alternatives - Information Search - Purchase Decision - Post-Purchase Behaviour

• none of these

What does the 50:30:20 Budgeting rule say?

• 50% Income, 30% Expenses, 20% Savings

• 50% Needs, 30% Savings, 20% Wants

• 50% Needs, 30% Income, 20% Savings

• 50% Needs, 30% Wants, 20% Savings

What is the difference between Fiat Currency and Crypto Currency?

• Only crypto currency can be used for online payments

• Crypto currency allows direct online payments

• Only Fiat Currency can be used for online payments

• Fiat Currency allows direct online payments

How does inflation affect finance?

• It decreases the purchasing power of money

• It has no impact on finance

• It decreases the value of assets

• It reduces the cost of living

If an expense can NOT be removed from your budget to save money, it is considered a(n) _____.

• Income

• Want

• Need

• Saving

A bank account is ____.

• Proof of identification

• A plastic card used to withdraw money

• Loan offering company

• A agreement between made with a bank to keep your money

What does PIN stand for?

• Personal Information Name
• Private Information Network
• Personal Identification Number
• Public Identification Number

A sum of money borrowed for a certain amount of time is called a _____.

• rent
• gift
• lease
• loan

People who store their money at home in a safe will not be able to

• increase their credit score
• Earn interest on their money

• access their money easily
• Give their kids an allowance

The amount paid for insurance is the

• deductible
• Tax Write - Off

• EMI

• premium