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WorksheetsConsumerism and Advertising Worksheet – Grade 12
Total questions: 96
Worksheet time: 48mins
Which option best define the term Consumerism?
Food and drink only
Economic practices that emphasizes consumption
Having a mega whopper
All of the above
Who is a consumer?
Promoting the welfare of consumers by limiting production
A business that purchases raw materials for manufacturing
Reducing advertising and marketing strategies
The end user of a goods and or services for personal, household, or non-commercial use.
What factors influences individuals buying decision?
Taste
Preferences
Cost
All of the above
Which industry is most directly impacted by consumerism?
Military
Healthcare
Retail
Agriculture
The phrase “Keeping up with the Joneses” best illustrates which aspect of consumerism?
Trade protectionism
Social comparison and material competitiveness
Financial austerity
Planned obsolescence
Which of the following are advertising media?
Press advertising
Television
Films
All of the above
What is the purpose of advertisement?
To announce the brands, products, services, and ideas
To tell about the brands, products, services, and ideas
To inform, to persuade, and to remind consumers of products, services, and ideas
To describe about the brands, products, services, and ideas
What is the primary purpose of the Fair Packaging and Labeling Act (FPLA)?
To limit the amount of advertising a company can produce
To ensure products are labeled clearly and informatively to help consumers make informed choices
To regulate the prices of consumer goods
To ban the use of synthetic ingredients in packaged food products
Lloyd was guilty of altering and creating new documents on his job he was charged with ________.
Spoofing
Phishing
forgery
grandparents scam
This advertising technique emphasizes that if you use their product, you will be beautiful.
Bandwagon
Glamour
Testimonial
Comparison
This technique in marketing and advertising emphasizes a purchase based on an item popularity.
Bandwagon
Glamour
Testimonial
Comparison
All of the following are techniques used by social media to win customers except?
Flattery
Bandwagon Appeal
Celebrity Endorsement
Research
Which of the following is not a traditional type of advertising media?
Television
Printed Press
Radio
Two main factors that influences consumer spending choices are?
Personal and external
Natural and Man made
Internal and external
None of the above
Which of the following is a personal factor in making wise purchasing decision?
Time of Year and season
Color
Needs and wants
All the above
External Factors that helps make wise purchasing decisions includes all the following except?
Emotions
Trends
Social Media
Celebrities
Which type of consumer is more likely to promote your business and write positive reviews?
Discounted consumer
Needs- based consumer
creditors consumer
Loyal consumer
All of the following are types of consumers EXCEPT?
Needs- Base
Conglomerates
Discounted
Impulsive
Which IS NOT a driving force in consumer decision?
Product review
Quality & Value
Both A & B only
none of the above
Which is the fourth stage of a buying decision?
Identify your needs / wants or maybe a PROBLEM!!
Evaluate your options.
Making a decision
Conduct an informational research
Reviews, consumer reports and product ratings are all examples of?
Consumer buying decision tools
Warranties
Thanks Giving
Bulls eye shoppers
Which of the following are rights of the consumer?
The right to choose
The right to be heard
The right to redress
All of the above
Identify the responsibilities as a consumer?
Filing Complaints for the Redress of genuine grievances
Insist on Cash Memo
Both A & B
Not keeping informed about new products
All of the following are ways that consumers can use to protect themselves from fraud EXECPT?
Not answering the phone to unanimous caller
Not clicking links as per usual to join a site
Working with licensed and certified reputable service providers
Providing personal information as needed to callers or online
What type of consumer fraud involves someone obtaining your personal information in order to impersonate you?
Identity theft
Debit and credit card fraud
Phone or internet fraud
Hidden fees
Which of the following methods would NOT be effective in protecting against identity theft?
Only share personal information with those who require it
Never respond to email requests asking for personal information
Review bank and credit card statements regularly and report any discrepancies or unauthorized transactions
Clicking on an email link from a user that you don't know
Which group (s) is/are the targets for consumer fraud?
The elderly and young adults
Middle-aged adults
The elderly
Everyone is equally at risk
Criminal fraud is deception along with what?
Misrepresentation
Phone call
Thief
A real Website
Which of the following is a warning sign of fraud?
A potential buyer asking if you can ship or deliver the item
Giving a cheque to make a purchase
A phone call asking for your date of birth
A phone call asking for your social security number
Which of the following scenarios is a possible fraud?
Dennis receives a call from his bank telling him that he has a low balance in his checking account and need to make an urgent deposit.
Sally is browsing the web and sees a brand-new, brand name leather purse that normally retails for well over 100foronly 5.
Helen finds a used, brand name leather bag for $50 less than retail price.
Josh visits his cell phone account website by typing in the address himself.
Abbe was encouraged to attend a meeting and take two friends to learn how to make 1000perweek.Allsheneedstodoissignupwith 200 and in six weeks she will earn up to $8,000. What kind of investment is she possible getting involved in?
Pyramid scheme
Government bond
Mutual fund
Certificate of deposit
Which of the following best defines a Pyramid Scheme?
A caller asking for your date of birth
A system that makes phone calls asking for your social security number
A network that relies on recruiting new participants who pay a fee to join.
A real Website
In a ______ scheme, the fraudster promises high returns to investors and uses the investments of new participants to pay returns to earlier investors.
Ponzi
Online scams
Investment fraud
Pyramid
Which of the following is/are examples of online scams?
Phishing
Emails
Fake websites
All the above
Which IS NOT a type of Fraud?
Filing a credit report
Online Scam
Phishing
Inheritance Fraud
The difference between a Ponzi scheme and a pyramid scheme are that both are fraudulent investment schemes, but they operate differently.
False
True
They are the same
Undecided
To avoid falling victim to scams what should you do?
Conduct research
Monitor accounts frequently
Stay updated on the latest scams and fraud
All the above
Sally has been seeing a series of unfair business practices on her utility bills. Which institution can she reach out to?
CFPB
ADU
DDD
SPHS
What does FTC stand for?
Fairview Trade Club
Fair Trading Commission
Federal Trade Commission
Federal Telling Commission
What does the acronym BBB stand for?
Best Building Blocks
Best Better Buys
Better Business Bureau
Bureau of Better Bargains
What is the purpose of the Consumer Financial Protection Bureau?
Helps consumers by providing educational material and accepting complaints
Provide grants to consumers
Check financial status of individuals
Provides financial plans for short and long term goals
Identify the advantages of advertising on social media.
Lower reviews
Lower cost for advertising
Lower conversation rating
Poor customer service
Which of the following is an example of an unethical business practice?
Offering a discount during a holiday sale
Disclosing product defects clearly to customers
Using false advertising to mislead consumers about a product's benefits
Conducting market research to improve customer satisfaction
What does the acronym OSHA mean?
Occupational Health and Safety Administration
Occupational Health and Security Administration
Occupational Help and Safety Administration
Occupational Housing and Security Administration
What is the main purpose of Occupational Health and Safety Administration?
To ensure compliance and regulation to safety standards within the workplace
For creating another legislation
To make additional revenue
None of the above
Truth in labelling laws requires that all consumer commodities should be
Properly labelled
Content clearly legible
Have name of product and business place
All the above
Reporting scams and fraud to consumer protection agencies helps prevent others from being affected.
True
False
Consumers should ignore product labels and reviews when deciding what to buy.
True
False
Businesses are legally allowed to mislead consumers if it increases profits.
True
False
Verifying a company’s reputation before making a purchase is a smart way to avoid being scammed.
True
False
Which of the following IS NOT an example of a natural resource?
Computer
Water
Oxygen
Oil
Which of the following is/are a type of resource?
Land
Money
Oil
All the above
Which of the following is NOT a factor of production?
Land
Livestock
Labour
Capital
What is a barter system?
When people trade goods or services without money
Extra or surplus
When you shop at Walmart
Online shopping only
Refers to man-made goods, such as tools, which are used to produce goods.
Capital
Entrepreneurship
Land
Labor
Individuals who are willing to take risks, to bring the resources together and develop new products, and start a new business is an
Capital
Entrepreneurship
Land
Labor
People who use their skills, talents, and expertise within an organization are providing _______.
Capital
Team work
Human capital
No answer given
All of the following are examples of a traditional economy EXCEPT.
Large scale manufacturing
The barter system
Hunting and gathering
Subsistence agriculture
Which activity would be most likely a characteristic of people in a traditional society?
Establishing a mercantile system of trade
Having the same occupation as their parents
Serving in government assemblies
Working in industrialized cities
How are major economic decisions made in a command economy?
Officials of the government control all aspects of economic activity
Manufacturers of industrial goods control the resources
Wholesalers of agricultural goods make most of the decisions
Supply and demand are determined by consumers
The key principle of the economic theory of communism is
The restoration of a bartering system in developing countries
The government ownership, control and regulation of property
The organization of workers’ unions in industrialized nations
The privatization of business and production of goods and services
How does a command economy differ from a free market economy?
Prices are set by consumers
A variety of economic incentives encourage business growth
There is a high rate of unemployment
Resources are allocated by government decisions
What is the function of the government in a command economy?
The success of the agricultural sector controls the manufacturer's goods
Trade policies mandated that imports exceed exports
They allow the laws of supply and demand to control the economy
They determine the type and quantity of goods to be produced through Five Year Plans
In which economic system would a person expect the widest selection of consumer goods?
Communist
Free Enterprise
Traditional
Socialist
Which group has the greatest influence in determining what goods and services will be produced in a communist economic system?
Government officials
Farmers
Bankers
Consumers
Which term best defines inflation?
The rate of decrease in prices over a period of time
Increase in investment opportunities
The rate of increase in prices over a given period of time
Consumers boycotting products
Which of the following is NOT an example of a financial institution?
Bank of America
CHASE
SECU
ANERA
What’s the term given to money spent by businesses to improve production called?
Investment
Insurance
Liabilities
Inflation
What does the acronym PPF in economics means?
Product price and Factories
Production Possibilities Frontier
Both A & B
Answer not given
What’s the term given to the process where inputs and other raw material are used to create a product or service called?
PPF
Consumption
Production
Produce
What would cause aggregate demand to increase?
Keep government spending constant
An increase in taxes
A decrease in government spending
A decrease in taxes
What term best describes the total demand for final goods and services at a range of price levels during a stated period of time?
Aggregate supply
Aggregate demand
Total supply
Total demand
If the supply for hamburger increases, what would happen to pizza?
The demand for hamburger will decrease and the demand decreases
Supplies increase and quantity demanded
Demand decrease and quantity supplied decreases
Most employers show appreciation/motivation to their employees by way of an _____.
Greeting
Demotion
Suspension
Incentive
Select all of the following examples of tax incentives a government may offer.
Bonus
Tax breaks
Subsidies
All of the above
Who is primarily responsible for setting monetary policy in United States of America?
The citizens
The government
Federal Reserve
Both B and C only
Who is responsible for fiscal policy?
Central Banks
The government
Private and state owned personnel’s
The consumers
Which of the following is a leading indication in micro and macro business cycle; which of the following is not micro & macro business cycle?
Employment rate
Stock market
Consumer spending
Production & Manufacturing
What are the fluctuating levels of activities over a period of time in an economy known as?
Ups and downs
Expansion
Economy
Business cycle
Business cycles are driven by different variables. Which of the following is not a variable?
Business investments
Consumer expectation
Boycotts and bonuses
Both A and B only
How important is the GDP?
It provides indicator for pandemic activities
It provides indicators to economists about the country’s financial status
It provides wealth creation for individuals
It provides mark up on goods and services
What are some examples of negative incentives?
Having a health insurance or a tax penalty
Fines/fees, for example getting a ticket for not wearing your seatbelt
Speeding ticket
All of the above
How profits and incentives works in an economy? In any __________ incentives to earn a profit motivates people to create better products at a lower price.
Business
Producers
Consumers
None of the above
Which of the following is a turning point of the business cycle?
Food shortage
Manufacturing
Recession
All of the above
What is the main objective of NAFTA?
To increase military cooperation between the United States, Canada, and Mexico
To establish a common currency between the United States, Canada, and Mexico
To eliminate most tariffs and other restrictions on free trade and investment between the United States, Canada, and Mexico
To create a common market for agricultural products only
Who is most affected by the higher prices caused by tariffs?
Government officials
Wealthy business owners
Foreign investors
Consumers especially those with a low income
In trade talks how can tariffs be used strategically?
To pressure other countries into fairer trade rules or human rights standards
To stop local business from growing
To help balance global poverty
To punish countries for exporting more
What is the primary objective of the World Trade Organization (WTO)?
To promote cultural exchange between member countries
To regulate the prices of goods and services globally
To establish a single currency for international trade
To improve the welfare of people around the world by ensuring that trade flows as smoothly, predictably, and freely as possible
Why does interdependence bring economic growth?
Interdependence strengthens governments, allowing great tax revenues
Interdependence enables specialized production, which is more efficient
Interdependence creates greater protection for domestic producers, which enables them to raise prices
Interdependence increases international competition, which leads to lower prices
Which option defines a will?
An agreement with family and friends while you are alive
A legal document that describes how you would like your property and other assets to be distributed after your death
A new testament of someone
Someone autobiography
Estate planning is best defined as?
A Will
A document similar to what a budget is
A plan that guides your love ones in handling your financial affairs and medical care.
None of the above.
Which of the following are benefits of estate planning?
Protection for one’s assets.
Ensure your wishes are fulfilled.
Provides peace of mind.
All of the following
A request for insurance payment to cover a financial loss
actual cash value
negligence
deductible
payment coverage
FDA enforces a food recall when?
A consumer sues a company
A product is found to violate food and safety standards
A product has passes it exportation date
A company request it
Credit can be open ended or closed - ended. Which of the following is an example of a close ended credit?
Mortgage
Lease agreement
Credit Cards
Loan Agreement
Which of the following is considered to be an open- end credit?
Lease agreement
Credit Cards
Mortgage
Loan Agreement
