Ch. 7 and 8 review

Getting the best deal on a purchase involves which of these? (select all that apply)

• having patience

• negotiating

• shopping around to find the best deal

• being first in line for a new product

Which of these places would you typically NOT find a good deal?

• online auctions

• consignment shops

• individuals

• mall

Which of these describes why using cash in a great bargaining tool? (select all that apply)

• cash is emotional

• cash is visual

• cash has immediancy

• none of the above

Sam is bargaining at a furniture store but is unable to negotiate the price down. What should his next step be?

• ask about 90 days same as cash

• shut up

• walk away

• continue negotiating

Your choices as a consumer have no impact on the larger social environment.

• True

• False

Being a wise consumer involves developing a variety of skills, from product research to careful comparative analysis.

• True

• False

Which is true about the "If I" take away technique?

• it involves negotiating the lowest price possible, then throwing something else into the deal

• should only be used when the "good guy, bad guy" technique is used on you

• meant to take advantage of the other person

• used prior to negotiating price

The Federal Trade Commission found that people who reported having more debt than they could handle were more likely to be victims of consumer fraud involving:

• fraudulent work-at home programs

• nonexistent foreign lotteries

• credit repair and debt consolidation

• dishonest prize promotion

Which of these is NOT recommended when you sell something you own?

• be armed with information so that you can be sure it's a win-win deal

• find an uninformed buyer and charge the highest price possible

• get antiques appraised and sell them slightly below that price

• make it clear that, as a seller, you have walk-away power

As a consumer, how should you ensure the best possible store return process? (check all that apply)

• know the store's return policy

• keep your receipt

• return things as soon as possible

• none of these