Econ- Chapter 3, Section 1 And 2 Question Preview (ID: 60059)


Consumers. TEACHERS: click here for quick copy question ID numbers.

Choosing the alternative that has the greatest value from among comparable-quality products:
a) Consumerism
b) Disposable income
c) Discretionary Income
d) Rational choice

Money income a person has left to spend on extras after necessities have been bought:
a) Consumerism
b) Disposable income
c) Discretionary income
d) Rational choice

Income remaining for a person to spend or save after all taxes have been paid:
a) Consumerism
b) Disposable income
c) Discretionary income
d) Rational choice

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) Discretionary advertising
b) Deceptive advertising
c) Competitive advertising
d) Informative advertising

Some consumers prefer generic products over brand-name products because:
a) They are less expensive
b) Their quality is better
c) They are more widely available
d) They come with warranties

When making an important buying decision, which of the following steps should a consumer do first?
a) Analyze advertisements
b) Gather information about the product
c) Compare prices of similar products at different stores
d) Read any contracts and warranties included with the product

Bait and switch is an example of:
a) Informative advertising
b) Deceptive advertising
c) Competitive advertising
d) generic advertising.

Before you can comparison shop, you must:
a) Make a rational choice
b) Gather information about the product
c) Decide how to use your purchase
d) Read all contracts and warranties

Education, occupation, experience, and health all make a difference in a person's:
a) Earning power and ability to consume
b) Ability to comparison shop
c) Exposure to advertising
d) Rational choice

Every purchase decision involves the use of two scarce resources:
a) Income and expenses.
b) Energy and time
c) Budgets and capital
d) Price and income

When you make consumer decisions based on opportunity cost, you are engaging in:
a) Consumerism
b) Gathering information
c) Rational Choice
d) Bait and switch

Getting information on the types and prices of products available from different stores and companies:
a) Competitive advertising
b) Informative advertising
c) Bait and switch
d) Comparison shopping

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