Understanding Hidden Fees and Consumer Protection

Understanding Hidden Fees and Consumer Protection

Assessment

Interactive Video

Business

9th - 10th Grade

Hard

Created by

Aiden Montgomery

FREE Resource

The video discusses the prevalence and impact of hidden fees in various industries, explaining the concept of drip pricing and its effectiveness in increasing consumer spending. It highlights the challenges consumers face in avoiding these fees and offers practical strategies to combat them, such as reviewing statements, asking for fee waivers, and supporting ethical sellers. The video concludes with a call to action for consumers to fight against hidden fees and support regulatory changes.

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What percentage of Americans encountered hidden fees between 2017 and 2019?

65%

75%

85%

95%

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the term used by economists to describe the gradual reveal of hidden fees?

Sneak Pricing

Layered Pricing

Drip Pricing

Hidden Pricing

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the StubHub experiment, how much more did people spend when fees were shown at the end?

20% more

15% more

25% more

10% more

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which industry made nearly $3 billion in fees in 2018?

Airline Industry

Hotel Industry

Banking Industry

Automobile Industry

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one way consumers can protect themselves from hidden fees?

Ignore monthly statements

Use auto-pay for all bills

Avoid using credit cards

Review statements periodically

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What should you do if you spot a hidden fee?

Ask for it to be waived

Switch to another service

Ignore it

Pay it without question

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How can loyalty programs help in avoiding hidden fees?

They waive fees for members

They increase the number of hidden fees

They provide free services

They offer discounts on all purchases

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