BEING A RESPONSIBLE CONSUMER

Sarah was very upset when her new phone broke the week after she purchased it. In her anger, she went to the local phone store and yelled at the sales person who had nothing to do with it. Which characteristic of being a wise consumer did Sarah violate?

• read labels and follow instructions

• use products safely

• complain effectively and refuse poor equipment

• resist high pressure sales people

Darrell's paycheck has had the taxes and benefits deducted. His take-home pay is referred to as:

• spending plans

• gross income

• net income

• expenses

Quinn is excited about her new job. The salary she was quoted for the position does not have deductions taken out of the amount. What type of income was Quinn quoted to earn?

• gross income

• net income

• hourly income

• weekly income

Which is the best way to increase the amount of one's savings, without depositing more money?

• save at least two months’ worth of expenses

• take advantage of the time value of money

• save money in a safe at home to protect it against loss

• practice “pay yourself last”

Fundamental beliefs or practices of personal importance should be placed in which category?

• wants

• needs

• values

• income

An ability to borrow a limited amount of money on demand, small monthly payments, and no end date are characteristics of which money tool?

• credit card

• debit card

• mortgage

• car loan

_________________ includes using television and radio advertising to reach large audiences.

• Print media

• Electronic media

• Broadcast media

Which method of payment most likely requires a personal identification number (PIN) to confirm the electronic transfer of funds from an account?

• credit card

• debit card

• cash

• check

What is one way advertisement tries to sway a buyer?

• Tells consumer not to buy a product.
• When advertisement makes claims on how it will benefit you.
• None of the above

This is a form of print media

• True

• False