Test_WFR_Consumer You

What is a consumer?

• a user of goods and services
• an influencer of what is available to buy
• a powerful economic force
• all of the above

Select 4 main factors that influence the decision to buy.

• Personal interests and values
• Peer pressure
• Advertising
• Income
• Event planning

The IDEAL decision making model can be applied to making decisions about purchases. IDEAL helps us move through the decision in order to learn from the process. IDEAL stands for: Identify the problem Describe alternatives Evaluate each option Act on it L

• Linger on making the decision
• Learn from your purchase
• Litigate bad decisions
• List pros and cons

'Smart Consumption' requires us to evaluate our consumer habits before we make the purchase. According the the video, "Inside the Mind of a Gen Z Consumer," what are some ways that Gen Z consumers evaluate products? Mark 4 answers.

• Influenced by a brand's story. Look for product brands that align with the buyer's values
• Digital marketing
• Research online, but buy in the store
• Price and quality comparisons - Post on social media to ask peers
• Feel the material before you buy

Why should you stay away from borrowing up to your credit limit?

• Because you're riding to the danger zone.
• Because Dave Ramsey said so.
• Because it reflects poorly on your credit score.
• Because your interest rate increases when you borrow more on a credit card.

Which of the following deductions are you most likely to see on your pay stub?

• Auto insurance deduction
• Office party deduction
• Social Security deduction
• Municipal tax deduction

If you wanted to know what factors contributed to your credit score, how could you find out?

• Check out your credit report.
• File a credit claim.
• Call your credit card company.
• Check your credit policy.

Which of the following shows up on your credit report?

• How many open accounts you have.
• Your debt-to-income ratio.
• Your payment history.
• 1st and 3rd options above
• All above Answers

You hit a deer while driving. The deer is fine but your car isn't. What kind of insurance must you have in order for the damage to be covered?

• Liability
• Comprehensive
• Collision
• All of the above

Which of these is not identity theft?

• Someone uses your identity to benefit financially.
• Someone steals your credit card and goes on a shopping spree.
• A scammer poses as a representative from a charity and asks for money.
• A stranger files for a tax return under your name.