PF 6.06 - 6.07: Consumer Spending And Makjor Expendatures Question Preview (ID: 34364)
PF 6.06 - 6.07: Consumer Spending And Makjor Expendatures.
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Why is investing in product research an important part of the planned buying process?
a) Research enhances satisfaction
b) Research decreases satisfaction
c) Research is too time consuming
d) Research is only necessary for big purchases
Perry would like to purchase a new car. What should he consider first in the planned buying process?
a) Evaluate the opportunity cost and trade‐offs to purchasing the car
b) Research different sellers to determine where to purchase the car from
c) Rank product features in order of importance
d) Calculate the cost of ownership
What is NOT an example of a durable good?
a) Food
b) Automobile
c) Cell phone
d) Clothing
Paxten is purchasing a new phone online. What is the best tip should he consider to do so safely and maximize his satisfaction?
a) Review shipping and return policies in advance
b) Use a debit card
c) Always use the seller offering the lowest price
d) Purchase a warranty
Sally is researching a new tablet and conducting research using a variety of sources. What is an example of an unbiased source?
a) A product review from an independent company
b) Product review from a seller
c) Product review from an individual making money from the sale
d) A product review that is five years old
A rental agreement is often referred to as:
a) a lease
b) an amenity
c) renters insurance
d) a mortgage
Rent is defined as:
a) the cost of using someone else’s property
b) the fee charged for performing property management tasks
c) an advance payment for costs beyond normal wear and tear
d) the purchase price of a housing unit
The equity that you build by making mortgage payments is:
a) the value of the home after the mortgage debt is subtracted
b) purchasing a housing unit as rental property
c) a home loan where the real estate is collateral
d) the amount of money paid on the home at the time of purchase
When making food decisions, which of the following is most likely to be least expensive?
a) convenience foods
b) fast food restaurants
c) ready‐to‐eat foods
d) full‐service restaurants
Brett borrowed money to purchase a vehicle without making a down payment and now he owes more on the vehicle than it is worth. This situation is referred to as:
a) being upside down on the loan
b) depreciation
c) leasing
d) a hidden cost
Melissa needs to a vehicle and is considering leasing one. This means:
a) She would be renting the vehicle by making payments over time, although the vehicle title would remain with the lease granto
b) She would be purchasing the vehicle by making payments over time.
c) Her depreciation costs will likely be higher.
d) She will need to pay a larger down payment to offset the lease agreement fees.
In which scenario below should renters insurance be considered?
a) Zach and Leah have rented an apartment in an urban area.
b) Steve and Teri have purchased a home in a rural area.
c) Tim and Hanna are living with his parents in the basement of their home for six months while flood damage is being repaired
d) Don and Denise are landlords for several rental properties.
Chad has decided to rent an apartment and is gathering information to be sure he has enough money saved for all the expenses when his moves in. His landlord explained to him that he would need to pay a fee to cover any potential damages that might oc
a) security deposit
b) rental agreement
c) down payment
d) amenities
Alyssa is considering purchasing a car and wants to be sure she can afford to drive it during the school year when she doesn’t have a job. Which expense WOULD NOT be considered part of the total transportation expenses:
a) depreciation
b) automobile payment
c) fuel
d) parking
Shelby is working on her spending plan and would like to spend less on her food for 6 months as she saves toward purchasing a more reliable vehicle. As she makes her plan, which factor would be least important to consider:
a) Her personal preferences
b) How much time she has available to prepare food.
c) The skills she has acquired for preparing meals.
d) The nutritional value of the foods she purchases.
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