WorksheetsChapter 5: - Consumer Awareness
Total questions: 30
Worksheet time: 3600secs
Name
Class
Date
1.
An example of discretionary spending is ___________.
a)
A. Utilities and food
b)
B. Transportation
c)
C. Monthly rent
d)
D. Nonessential goods and services
2.
Why do stores like scan and go options, apps, and one-click purchases?
a)
A. It’s harder for customers to pay, so they end up saving money.
b)
B. It makes paying easier and faster, so customers are more likely to overspend.
c)
C. Digital pay is the way of the future, and retail stores like being ahead of the times.
d)
D. It's easier for the retail store clerks.
3.
As an effective marketing strategy, companies pay a lot to...?
a)
A. Have their products strategically placed in the store.
b)
B. Get you to dislike their branding.
c)
C. Confuse you about their product.
d)
D. Choose a brand similar to theirs.
4.
When someone steals and uses your debit or credit card info, that's called ___________________ .
a)
A. Networking
b)
B. Borrowing
c)
C. Fraud
d)
D. Authorized spending
5.
What does it mean to develop power over purchase?
a)
A. You are powerless in the face of an impulse purchase.
b)
B. You can make decisions very quickly when it comes to purchasing items.
c)
C. You are able to slow down and think through your motives before buying something.
d)
D. You have power to purchase whatever you want, and you do so.
6.
To think big picture, you need to understand that . . .
a)
A. The best way to have more money is to have contentment.
b)
B. The best way to be content is to have more money.
c)
C. Your goals are less important than buying the latest and greatest stuff.
d)
D. You can buy happiness.
7.
Companies use marketing to get your prefrontal cortex offline so you'll be vulnerable to impulse purchases.
a)
True
b)
False
8.
Americans spend over $2,100 a year on ______________.
a)
A. Impulse purchases
b)
B. Entertainment
c)
C. Groceries and eating out
d)
D. Credit card fees
9.
What is the digital marketing strategy that tracks users across the web?
a)
A. Retargeting
b)
B. Native ads
c)
C. YouTube videos
d)
D. Content marketing
10.
Before you insert your debit card at the gas pump, you should always . . .
a)
A. Check out the card reader to see if it looks diferent, loose, or worn
b)
B. Make sure you have enough money in your account
c)
C. Ask the store clerk if there has been a thief here lately
d)
D. Pay cash—never use a card at a gas pump
11.
It's your right as the consumer to . . .
a)
A. Pitch a ft if you don't like the product you just purchased, and demand a refund
b)
B. Buy whatever you want, as long as you don't go into debt over it
c)
C. Expect a product to live up to the quality promised to you before you purchased it
d)
D. Keep a product even if it malfunctions or has manufacturing issue
12.
The key to contentment is gratitude.
a)
True
b)
False
13.
Part of being a smart consumer is being able to . . .
a)
A. Say no to an unnecessary purchase
b)
B. Use a credit card for the points without going into debt
c)
C. Set up digital wallets and mobile payment
d)
D. Discern when to open a retail store credit card and when not to
14.
Why is paying for something in cash a better option than a virtual payment even if it isn’t as convenient?
a)
A. If you make spending less convenient, you're less likely to buy things you don't need.
b)
B. It’s easier to part ways with cash, so you're more likely to overspend.
c)
C. It isn't a better option. The perks of virtual payments outweigh the downsides.
d)
D. It helps the store clerk when you use cash.
15.
You won't find contentment by just continually buying stuff.
a)
True
b)
False
16.
Why does brand recognition help businesses?
a)
A. It makes their name and logo easily memorable for consumers.
b)
B. It helps the business recognize their own logo.
c)
C. It keeps the consumer from buying more of their product or service.
d)
D. It helps them partner with other businesses.
17.
It's okay to make an online purchase if you're on unsecured Wi-Fi, as long as you log of as soon as you're done.
a)
True
b)
False
18.
Why should you never buy the extended warranty?
a)
A. Retail items and products rarely break or malfunction.
b)
B. You should buy the extended warranty. It is a smart financial decision.
c)
C. Most retailers will replace or repair the product if it stops working within the first year.
d)
D. The retailers never keep their promises.
19.
Appreciating who you are and what you have instead of wanting what your friends have is called __________________ .
a)
A. Comparison
b)
B. Contentment
c)
C. Gratitude
d)
D. Consumerism
20.
Creating a budget, having clear money goals, and slowing down to think through a purchase are all practices of a ___________________ .
a)
A. College student
b)
B. Wise consumer
c)
C. Foolish consumer
d)
D. Free spirit
21.
What is one way to practice power over purchase?
a)
A. Spend more money
b)
B. Make quicker decisions when buying
c)
C. Make sure you're sticking to your budget
d)
D. Pay with credit cards to earn rewards
22.
Which of the following has the lowest risk for getting your card information stolen?
a)
A. Handing your card over to a server at a restaurant.
b)
B. Making an online purchase on an unsecured site
c)
C. Using your debit card and PIN at a reputable store
d)
D. Storing your card information online
23.
Shoe companies can use influencer marketing to build brand recognition to gain credibility and familiarity.
a)
True
b)
False
24.
Reading the owner's manual, using the product as intended, and keeping the receipt are ways to . . .
a)
A. Protect and maintain your purchase
b)
B. Go into debt over an item
c)
C. Think through a purchase
d)
D. Avoid regretting an impulse purchase
25.
Stuff doesn't equal _______________. Debt makes people look better of than they ________________________ .
a)
A. Wealth; actually are
b)
B. Investments; should be
c)
C. Happiness; deserve
d)
D. Income; want to be
26.
Personal finance is 20% head knowledge and 80% ________________.
a)
A. Behavior
b)
B. Attitude
c)
C. Good intentions
d)
D. Motivation
27.
What three questions is the brain always asking?
a)
A. Am I safe? What are my surroundings? What are my thoughts?
b)
B. Am I safe? Do I belong? Does this feel good?
c)
C. Can I buy it? Should I buy it? Will I buy it?
d)
D. Am I nervous? Am I mad? Am I scared?
28.
Since marketers have sophisticated technology and plans to get your money, what can you do to make sure you don’t fall into their trap?
a)
A. Make snap decisions to buy products.
b)
B. Be aware of when and where you’re being marketed to.
c)
C. Stay of any form of digital media entirely.
d)
D. Never buy anything online.
29.
If you're a victim of card fraud . . .
a)
A. Contact your bank immediately
b)
B. Wait until the next week to contact your bank
c)
C. Wait for your bank to contact you
d)
D. Call 911 before making any other purchases
30.
Contentment is hindered by _______________ .
a)
A. Immediate gratifcation
b)
B. Delayed gratifcation
c)
C. Money principles
d)
D. The Five Foundations
100 %
