What does 'Caveat Emptor' mean?
Caveat Emptor: Let the Buyer Beware! - Ramsey

Quiz
•
Financial Education
•
12th Grade
•
Hard
Tess Miner-Farra
FREE Resource
9 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The seller is responsible for the product
The buyer is responsible for the purchase
The seller must disclose all information
The product is guaranteed
Answer explanation
The buyer is responsible for the purchase as 'Caveat Emptor' means the principle that the buyer alone is responsible for checking the quality and suitability of goods before a purchase.
2.
MATCH QUESTION
30 sec • 1 pt
Match the following marketing tactics with their descriptions:
Face-to-face selling
Product Placement
Short-term incentives to boost sales
Personal Selling
Featuring products in movies or TV shows
Sales and Promotions
Creating a positive image of the brand
Brand Association
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which tactic involves placing pricier items at eye level in stores?
Convenient Payment Methods
Personal Selling
Product Placement
Brand Association
Answer explanation
Product Placement involves placing pricier items at eye level in stores to attract customers' attention and potentially increase sales. Product placement might also involve featuring a brand in a TV show or movie.
4.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Which of these are good strategies for avoiding impulse buying? (mark all that apply)
Use convenient payment methods
Always carry cash
research options before buying
wait a couple of days and decide if you still need it/want it.
Answer explanation
A good strategy to avoid impulse buying is to have a shopping list, which helps you stay focused on what you need and prevents unnecessary purchases.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main goal of businesses according to the text?
Customer satisfaction
Building brand loyalty
Providing quality products
Making a profit
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What should you do before making a purchase according to the text?
Check if it's on sale
Buy it immediately
Research the product and retailer
Ask friends for recommendations
Answer explanation
Research the product and retailer is the correct choice as it helps in making an informed decision before making a purchase.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the risk of using convenient payment methods?
You might forget your passwords
You might overspend without realizing
You might earn rewards points
You might get discounts
Answer explanation
The risk of using convenient payment methods is that you might overspend without realizing, leading to potential financial problems.
8.
DROPDOWN QUESTION
30 sec • 1 pt
The suggested action if you receive marketing emails that tempt you to buy is to (a)
Answer explanation
If you receive marketing emails that tempt you to buy, the suggested action is to unsubscribe from them to avoid further temptation and clutter in your inbox.
9.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the first step to take control of your spending?
Follow brand promotions
Create a budget
Use credit cards wisely
Shop during sales
Answer explanation
Create a budget is the first step to take control of your spending as it helps track and manage your expenses effectively.
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