Chapter 7 Quiz Review

Chapter 7 Quiz Review

12th Grade

17 Qs

quiz-placeholder

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Chapter 7 Quiz Review

Chapter 7 Quiz Review

Assessment

Quiz

Social Studies

12th Grade

Easy

Created by

Shailindar Singh

Used 156+ times

FREE Resource

17 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

One way that all consumer behavior is alike is that all consumers

have similar tastes and wants.

share the same religious beliefs.

buy to satisfy their needs.

are the same age.

Answer explanation

Everyone has to meet their basic needs (or satisfy their necessities).

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

If consumer spending increases, which of the following will decrease?

Prices

Unemployment

Production

Business Activity

Answer explanation

If consumers demand more goods and services, businesses will open and others will expand in order to provide those goods and services. They'll hire people to work in those businesses.

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is the most important factor in determining how much consumers spend?

Gender

Age

Income Size

Marital Status

Answer explanation

People who are less wealthy can't afford to buy as much. Wealthy people spend more.

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Buying which of the following is an example of conspicuous consumption?

Notebook and Pens

School Lunch

Expensive Watch

Prom Tickets

Answer explanation

Conspicuous consumption is sort of like "showing off" through purchases.

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

When might you wait to buy something rather than buying now?

You're expecting prices to go up later.

You've just landed a new job.

You just got a pay raise.

You're expecting prices to fall soon.

Answer explanation

You're likely to buy when the prices are cheapest.

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

When might you buy something now, rather than waiting?

You're expecting prices to go up soon.

You're expecting prices to fall soon.

You're about to lose your job.

You're thinking a better product is about to be released.

Answer explanation

Again, you want the best price. Aside from the two responses related to price, the other two reasons are reasons people may to wait to buy.

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

"Keeping up with the Joneses" refers to

the goods and services that we need to exist.

those things that satisfy people's wants and needs.

excessive spending to impress others.

spending to stay on the same level as friends and neighbors.

Answer explanation

This is like buying a new Porsche because your neighbors already have expensive sports cars.

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