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