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Consumer Purchasing and Protection section 1

Quiz by Paula Fontaine

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22 questions
Show answers
  • Q1
    You just got paid, you choose to buy new sneakers instead of depositing the money in the bank.  No putting money in the is considered _______, the loss of potential gain
    trade-off
    marginal cost

    opportunity cost

    marginal benefit

    30s
  • Q2
    The following are considered tradeoffs except
    You saved time by buying clothes online, but now you need to return because they don't fit and you have to pay for shipping
    You purchase a quality product at a reasonable price
    You go to a restaurant because you get one meal for free but it was cold.
    You chose a jacket because it was cheaper and the zipper broke a week later
    30s
  • Q3
    How many buying phases are there?
    2
    4
    5
    3
    30s
  • Q4
    Which activities would you find in Phase 2, Evaluating your alternatives?
    thinking about whether to buy it, rent it, or do without it
    paying with cash
    evaluating your purchase
    identify your needs
    30s
  • Q5
    Making a down payment is found in which phase
    Phase 1 Preshopping activities
    phase 4 Postshopping activities
    phase 2 Evaluating the alternatives
    phase 3 Determining the Purchase price
    30s
  • Q6
    Being upside-down means
    losing money
    your item value is less than the amount you still owe
    your bank informs you of insufficient funds
    standing on your head
    30s
  • Q7
    A great place to find consumer information
    all of the above
    Consumer Reports
    Ads and packaging
    the internet
    30s
  • Q8
    The lowest price is generall the wisest choice when
    quantity and quality are the same
    you cannot afford to buy the best quality
    you can afford to buy any of the options
    prices and quality differ
    30s
  • Q9
    Which phase would you be concerned about maintaining your product?
    phase 3
    phase 1
    phase 2
    phase 4
    30s
  • Q10
    Which phase would you negotiate a price for a car
    phase 4
    phase 3
    phase 2
    phase 1
    30s
  • Q11

    If the negotiated price of your vehicle is $26,570, how do you calculate your down payment?

    26,570x20

    26,570/.20

    26570/20

    26,570 x .20

    30s
  • Q12

    How do you find Principal?

    Price / down payment

    down payment x price

    Negotiated price - Down payment

    MSRP + down payment

    30s
  • Q13

    If your car is $24,000 and you're paying a 20% down payment, how much is the principal ?

    $19,200

    $21,600

    $20,000

    $4,800

    30s
  • Q14

    Which of the following is a consumer myth?

    A hundred percent of charitable donations do not go to the actual charity

    Warranty policies may vary store to store

    You have a three-day right to cancel any purchases

    You can negotiate prices at a car dealership

    30s
  • Q15

    Which phase of the purchasing process begins when a consumer realizes they have a problem or need?

    Purchase

    Evaluation

    Information Search

    Before the Purchase

    30s

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