Consumer Skills

an arrangement by which people borrow money from a bank to buy a house, and pay back the money over a period of years

• mortgage

• overdraft

• share

• refund

A special plastic card that you can use to pay for things directly from your bank account.

• Credit card

• Cash card

• Debit card

A piece of paper that shows that goods or services have been paid for.

• receipt

• recipe

• bill

• account

What is it called if we ran out of coffee creamer?

• Scarcity

• Opportunity Cost

• Producer

• Services

Money available to spend on goods and services that are not essential.

• Discretionary Income

• Expenditures

• Budget

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

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?

• 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

Which of the following is a key factor in making a budget?

• A) Ignoring fixed expenses

• B) Estimating variable expenses

• C) Spending all your income

• D) Saving less than you earn

What is the primary benefit of using a shopping list?

• A) To buy more items than needed

• B) To avoid impulse buying

• C) To spend more time in the store

• D) To forget essential items

Why is it important to read product reviews before making a purchase?

• A) To increase the price of the product

• B) To understand the experiences of other consumers

• C) To decrease the quality of the product

• D) To make the product more popular