Understanding Modesty and Finance

What is redress in business?

• Compensation for losses

• Taking legal action

• Correcting a wrong

• Receiving a refund

Which of the following is NOT a way of seeking redress in business?

• Negotiation

• Litigation

• Settlement

• Ignoring the issue

If a consumer feels cheated by a business, the first step they should take is:

• Go to court

• Contact the consumer protection agency

• Negotiate with the seller

• Ignore the problem

What can consumers seek if they feel they have been treated unfairly by a business?

• Compensation

• Apology

• Refund

• All of the above

In the event of a contract dispute, a person can seek redress by:

• Going to the police

• Reporting to a consumer protection body

• Going straight to court

• Negotiating only

If you have a problem with a business product or service, who should you first contact?

• The media

• The business’s customer service department

• The government

• The court

What is personal finance?

• Managing money for a business

• Managing money for an individual or household

• Investing in stocks

• Spending money recklessly

Which of the following is a source of income?

• Spending money

• Earning a salary

• Using credit cards

• Borrowing money

What does budgeting involve?

• Earning more money

• Spending more than income

• Planning how to spend and save money

• Avoiding paying bills

What is savings?

• Money spent on luxuries

• Money set aside for future use

• Money borrowed from others

• Money used for investment only