Consumer Skill & Credit and Debt Review

Which statement best describes how to comparison shop?

• Buy many brands of the same item, see which you like best, and return all the rest

• Set a budget, decide what features you want, and see which stores/brands best fit your needs

• Visit many stores and ask the salespeople to lower the price until one offers something you can afford

• Start your own website that compares the current store prices of items you shop for regularly

You're going to buy a new bicycle. What should be one of your first steps in comparison shopping?

• Decide what bicycle features you care most about

• Visit the store that sells the least expensive bicycles

• Locate a coupon for bicycles

• Sell your old bicycle

Randall needs to make two purchases today -- a box of donuts to share with his homeroom and a pair of running shoes for the upcoming track season. For which item should he do MORE comparison shopping?

• Neither -- both of these purchases are very easy

• The donuts -- because he wants to get a lot of flavors

• The shoes -- because they need to fit well and last for the whole season

• Both -- you should comparison shop for every item you

A popular promotion at stores is "Buy One, Get One Free." Why do stores offer this deal to their customers?

• Stores promote the deal but make you pay for the second item anyway once you're at the cash register

• Stores make money because you still have to pay taxes on the second item

• Most stores are not trying to make a profit, so it doesn't matter if they give away free items

• Great deals convince customers to buy things they don't need and stay loyal to the store or brand

Complete this sentence: A checking account statement...

• is the receipt you get from a store when you purchase something using a check

• tells you the bank's policies on fees

• lists all the purchases and deposits you've made in the previous month

• allows you to take out a student loan for college

Unit Price is the

• Price per item

• Price per package

• Price of items multiplied by 3

When you lease you....

• you own the car

• do not pay for the entire car

• put a down payment and then take a loan to pay balance

• do not have a limit on mileage

What form of payment is accepted everywhere except online?

• debit card

• cash

• credit cards

• echeck

When you lease a home you ...

• make monthly payments in the form of a mortgage

• pay for it up front

• make monthly payments for a set period of time

When buying a house, _________ can be a factor in determining house prices.

• historical prices

• schools

• location

• all of the above