Test: Chapter 22 – Making Consumer Decisions

What is the definition of a consumer?

• Someone who produces goods and services for others to purchase

• Someone who selects, purchases, uses, and disposes of goods and services

• A company that specializes in selling products to other businesses

• An individual who compares prices at various stores

What is a budget?

• A trade name for a product or service

• A plan specifying how money will be allocated or spent

• A list of items you want to purchase

• A type of store that sells goods in bulk

What is a brand name?

• A general term for any product sold in stores

• A trade name for a product or service produced by a specific company

• A product that is unadvertised and sold at a lower price

• A type of store that carries only name-brand products

What are generic products?

• High-quality products made by well-known companies

• Plainly labeled, unadvertised products sold at lower prices than brand-name goods

• Products sold only during sales events or promotional periods

• Goods that are sold exclusively in department stores

Why might it be better to buy an air conditioner in the winter?

• Stores only sell air conditioners during the winter.

• Prices are higher due to high demand.

• Prices are lower because of decreased demand.

• Air conditioners are higher quality in the winter.

What is one key difference between department stores and discount stores?

• Department stores carry only seasonal products.

• Discount stores offer more customer services.

• Department stores sell goods at higher prices with more services.

• Discount stores only sell food and groceries.

Which type of store carries a variety of goods but focuses on one or a few related product lines?

• Convenience stores

• Limited-line retailers

• Warehouse stores

• Discount stores

What is the primary feature of superstores?

• They specialize in one product line.

• They sell groceries and additional items like books and clothing.

• They sell only brand-name items.

• They operate exclusively online.

What is a key benefit of comparison shopping?

• It allows consumers to buy the most expensive product.

• It helps determine the best value for money.

• It ensures purchases are made from department stores.

• It prevents the purchase of brand-name goods.

Why might a consumer choose a convenience store over a warehouse store?

• Convenience stores offer a wider selection of goods.

• Convenience stores provide easy access to necessities.

• Warehouse stores have higher prices.

• Warehouse stores only sell outdated goods.