CHAPTER 6 - QUIZ

Question 16 - A fixed operating cost for a vehicle is

Depreciation

Question 8 - Negotiation activities are part of the ________ phase of the research-based buying process.

selection and purchase

Question 20 - What is the unit price of a 32 ounce box of brown sugar that costs $3.20?

$0.10 per ounce

Question 17 - Craig wants to get his old car repaired, but he doesn't want to spend much money. He probably will NOT want to go to the most expensive repair service, which is from a(n)

Car dealer

Question 19 - Sally has a major problem with a product and thinks that many others have had the same problem. Which of the following is the best way to resolve the problem?

Class action lawsuit

Question 6 - Mike bought a new car. His new car warranty probably included all of the following except

Extended coverage for air conditioning

Question 4 - Most products come with some guarantee of quality. This type of warranty states that a defective product can be fixed or replaced during a reasonable amount of time.

Full warranty

Question 5 - Steve bought a laptop that was defective. This laptop will be fixed or replaced by the manufacturer as long as he returns it in a reasonable amount of time. What type of warranty does he have on his laptop?

Full warranty

Question 1 - While Paul was shopping for a new chainsaw, he found a great deal on a new drill and bought it. This is an example of

Impulse shopping

Question 14 - Heidi plans to purchase a pickup truck. The range available for negotiation is the difference between the sticker price and the

Invoice price

Question 15 - The lowest payment does not necessarily mean the best credit plan. If your car loan is a long period of time, you may end up owing more than the car is worth, which is called

Negative equity

Question 3 - A partial refund of the price of a product is called a

Rebate

Question 13 - The expected value of a vehicle at the end of a lease is called the

Residual value

Question 12 - A no-haggling dealer presents the price of a new car to be accepted or rejected as stated and is called a(n) ________ dealer.

Set price

Question 11 - The amount printed on a label with the suggested retail price that is posted on a vehicle is called the

Sticker price

Question 7 - Comparison of product features is part of the ________ phase of the research-based buying process.

evaluating alternatives

Question 10 - The appearance of a used car can be deceptive. When purchasing a used vehicle, it is a good idea to

Have a trained and trusted mechanic of your choice check out the vehicle

Question 9 - While evaluating alternatives, all of the following are appropriate questions you could ask before making a major purchase except

How do the price, quality, and service compare at different stores? Which brands should I consider? Is it possible to delay the purchase or to do without the item? Should I pay for the item with cash or buy it on credit? All of these are questions that should be asked. xx

Question 18 - Tamra went to a restaurant and had an unpleasant experience that sent her to the hospital. The problems at the restaurant should be handled by

The county health department

Question 2 - A standard measurement used to compare the prices of packages of different sizes is

Unit pricing