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Econ- Chapter 3, Section 1 And 2
Test Description: Consumers
Instructions: Answer all questions to get your test result.
1) When you make consumer decisions based on opportunity cost, you are engaging in:
A
Gathering information
B
Rational Choice
C
Consumerism
D
Bait and switch
2) Every purchase decision involves the use of two scarce resources:
A
Energy and time
B
Income and expenses.
C
Budgets and capital
D
Price and income
3) Education, occupation, experience, and health all make a difference in a person's:
A
Ability to comparison shop
B
Earning power and ability to consume
C
Rational choice
D
Exposure to advertising
4) Before you can comparison shop, you must:
A
Gather information about the product
B
Decide how to use your purchase
C
Read all contracts and warranties
D
Make a rational choice
5) Bait and switch is an example of:
A
Informative advertising
B
generic advertising.
C
Deceptive advertising
D
Competitive advertising
6) Some consumers prefer generic products over brand-name products because:
A
They come with warranties
B
They are less expensive
C
They are more widely available
D
Their quality is better
7) When making an important buying decision, which of the following steps should a consumer do first?
A
Compare prices of similar products at different stores
B
Gather information about the product
C
Read any contracts and warranties included with the product
D
Analyze advertisements
8) Which type of advertising would be most helpful for a consumer who needs to decide if a particular digital camera is right for her?
A
Deceptive advertising
B
Informative advertising
C
Competitive advertising
D
Discretionary advertising
9) Income remaining for a person to spend or save after all taxes have been paid:
A
Disposable income
B
Consumerism
C
Rational choice
D
Discretionary income
10) Money income a person has left to spend on extras after necessities have been bought:
A
Consumerism
B
Rational choice
C
Discretionary income
D
Disposable income
11) Choosing the alternative that has the greatest value from among comparable-quality products:
A
Discretionary Income
B
Rational choice
C
Consumerism
D
Disposable income
12) Getting information on the types and prices of products available from different stores and companies:
A
Bait and switch
B
Informative advertising
C
Competitive advertising
D
Comparison shopping
*select an answer for all questions
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