Consumer Skills

Which fact supports the idea that renting is a good option for living in a place for a short period of time?

Landlords take care of most maintenance

What is one of the best ways to get reliable information about a product?

Search online reviews

Which of the following is NOT an advantage of owning a car?

Smaller down and monthly payment than leasing a car

Leasing a car may be a better option than buying a car if...

You don't plan for having it for long and don't want to worry about maintenance

Which method of payment actually is a form of borrowing money that needs to be paid back later?

Credit Card

Which payment option can offer additional security like fraud protection?

Credit Card

Which payment option could have interest charged to you?

Credit Card

Which payment option takes money out of your bank immediately?

Debit Card

Which of the following are costs associated with owning a car?

- Fuel - Insurance - Repairs

Making a good purchasing decision requires

- comparing the prices of similar items - reading reviews of the product - waiting until the product is on sale, if possible

Which housing option gives you more freedom and more responsibility?

Buying a house .

Which payment option is not accepted online?

Cash

Which example shows an advantages of owning a car over leasing one?

No restrictions on the number of miles to drive and the ability to customize, or make changes to the car.

How is a post from a social media influencer different than a comment from a regular consumer?

The influencer is paid to post.

A pack of 24 pencils is more expensive than 12 pencils, but why could buying the 24 pack be the better deal?

The price of each pencil is actually cheaper in the 24 pack

What is the best reason for why someone would want to lease a house instead of buy one?

They are planning on living there for a short period of time

When you are deciding what to buy, you should not...

assume that buying the cheapest item is the smartest choice.

The price of a single item within a group of items is known as the of the item.

unit price

How does a consumer know whether a purchase may be a good deal?

- A large percentage of positive customer ratings offer detailed explanations. - The item has the most features compared to other similar items.

What are possible red flags or signs of a scam when buying a car?

- Being told your financing fell through - Charging of excessive fees