financial literacy 18-19
An individual would benefit from comparison shopping when wanting to purchase which of the following types of products and/or in which of the following situations?
-Products where quality differs greatly among sellers -Expensive or complex products -Products that are sold by many different sellers at various prices
Which of the following automobile costs are variable costs?
-gas -oil -repairs -parking cost and tolls
Which of the following automobile costs are fixed ownership costs? Multiple select question. Insurance Repairs Registration fees Depreciation Interest on car loans Oil Parking costs and tolls Gas
-interest on car loans -depreciation -registration fees -insurance
In__________ a third party tries to settle a grievance through a legally-binding process.
arbitration
The common sources of information regarding products during the preshopping phase include personal_________________ , business organizations, media, and independent testing agencies such as Consumer Reports.
contacts
Product labels on appliances include information on operating_______________ to assist you in selecting the most energy-efficient models.
costs
The first step in the consumer complaint process is litigation. True false question.
false
One of the most useful sources of information regarding products during the preshopping phase is Blank______ that provide buying guidance and shopping suggestions.
online reviews
People who have very little money in savings will probably rent housing rather than purchase it.
true
Which of the following are advantages of buying housing? Multiple select question. Many remodeling or customization possibilities Easy to move (mobility) Significant tax benefits Minimal financial commitment
-many remodeling or customization possibilities -significant tax benefits
Which of the following is NOT true? Multiple choice question.
A limited warranty states that a defective product can be fixed or replaced within a certain time.
An _____________warranty, usually in writing, is created by the seller or manufacturer and has two forms: the full warranty and the limited warranty.
express
You should begin the consumer complaint process at the corporate headquarters of the store where the problem began.
false
The information on the label of some food products includes __________ dating that helps the consumer determine freshness or shelf life of a perishable product.
open
A security deposit covers the cost of damages that may be done to a rental unit. True false question.
true
Every buying decision is a statement about your lifestyle.
true
Most consumer complaints are resolved at the original sales location.
true
