Becoming Financially Literate/Making Money Decisions

Which group of three words are most closely related to the word “consumer?”

• seller, marketer, merchandiser

• buyer, purchaser, user

• supplier, worker, cashier

• boss, manager, CEO

Influencers, and marketers target you through advertising and pitches to convince you to buy something.

• True

• False

An investor buys a stock for $10 per share and sells it 10 years later at $20 per share. This is an example of...

• Return on Investment (ROI)

• a durable good

• a pricing strategy

• inflation

Price is usually determined by supply and ​ (a)   .

• demand
• temperature
• color
• size

Which trick of advertising uses words and phrases like "50% off" or "Sale!" to try to convince you to buy a product?​ ​ (a)  

• Words
• Price
• Timing
• Your Behavior

Which trick of advertising use ads based on what you're watching, where you are located, and what type of shows you watch to ​ try to convince you to buy a product?​ ​ ​ (a)   ​

• Price
• Timing
• Words
• Your Behavior

Which trick of advertising do companies use when a product is priced at $4.99 instead of $5.00? ​ (a)  

• Price
• Words
• Your Behavior
• Timing

Social media apps use algorithms to learn your likes and ​ (a)   and tailor ads to the things you like the most and are most likely to want to buy. 

​ ​ ​

• Price
• Words
• Timing
• your behavior

Match the description to the correct tactic used.

• Impulse Triggers

• Utilizing visually appealing packaging, catchy slogans, or prominent product placements to capture consumers' attention and trigger impulsive reactions.

• Cross-Selling and Upselling

• Recommending additional products or upgrades at the point of purchase to capitalize on impulsive buying tendencies and increase overall spending.

• Limited Time Offers

• Highlighting positive reviews, testimonials, or endorsements from influencers or celebrities to create a sense of social validation and encourage impulsive purchases.

• Emotional Appeals

• Creating a sense of urgency by presenting time-limited deals, discounts, or promotions, encouraging consumers to make quick buying decisions.

• Social Proof

• Employing persuasive techniques that evoke emotions like excitement, desire, or fear to spur impulsive purchasing decisions.

Find the unit price.

3 pounds of apples for $10​ (a)   per pound

• $3.33
• $5.00
• $2.50
• $3.50