FINANCIAL CHAP 6

what is the unit price of a 32 ounce box of brown sugar that costs 3.20

0.10 per ounce

use the following information, what is the cost to LEASE a car

18,530

if you have a problem whose remedy will be between 1,500 and 3,000, the appropriate tool to use would be an

small claims court

The price of a leased vehicle is known as the

capitalized cost

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

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

When Jane researched the brands and prices of refrigerators, she was

comparison shopping

all of the following are variable operating costs for a vehicle except

depreciation

all of the following are fixed operations costs for a vehicle expect

maintenance and repairs

these products are sold by one chain of stores and are low-cost alternatives ton famous-name products

private-label or store brand

A no-haggling dealer presents the price of a new car to be accepted or rejected as stated and is called a ___ dealer.

set price cap

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

sticker price

use the following information, what is the cost to BUY a car......

24,560

while evaluating alternatives, all of the following are appropriate questions you could ask before making a major purchase except

all of these are questions that should be asked

which of the following is a disadvantage of a car lease

at the end of the lease you have no ownership interest in the vehicle

Steven needs to write a will. His best resource is (a)

attorney

this type of promotion immediately reduces the amount a family spends on groceries each week

coupons

moat products come with some guarantee of quality. Which of the following is usually in written form, created by the seller or manufacturer, and has two forms?

express warranty

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

extended coverage for air conditioning

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

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 of the vehicle.

most products come with some guarantee of quality. This type of warranty covers the product's intended use or other basic understandings that are not worth in writing

implied warranty

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

impulsive shopping

The dealer's cost is also known as the

invoice price

which of the following is correct about the lemon law

it applies to vehicles that have been serviced four times to correct the same problem in the first 12,000 miles

Adolph has a low income and needs legal assistance. He should make use of (a)

legal aid society

Most products come with some guarantee of quality. This type of warranty covers only certain aspects of the product, such as parts

limited warranty

variable operating cost for a vehicle is

maintenance and repairs

a process used to settle grievances in a nonbinding process is called an

mediation

a vehicle lease has several costs. Which of the following is the interest rate used to calculate the monthly cost

money factor

which of the following is an advantage of a car lease

monthly lease payments are usually lower than monthly financing payments

these products are highly advertised and available at many stores

national brand

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

this is shopping label is used primarily on perishable products to help the consumer judge freshness or shelf life

open dating

a vehicle lease has several costs. Which of the following is the amount paid monthly and the number of payments

payment schedule

a partial refund of the price of a product is called

rebate

George has never bought a new car before. Which of the following techniques should he use to get the best deal?

research the dealer cost and the begin negotiations from the point

the expected value of a vehicle at the ed of a lease is called the

residual value

tamara 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 country health department

this is a written guarantee from the manufacturer that specifies the conditions under which the product can be returned, replaced, or repaired

warranty