Semester Review

What does BBB stand for?

• Business Bureau of Better
• Bureau of Better Business
• Better Bureau of Business
• Better Business Bureau

When looking at advertising "sponsored" reviews are the most reliable.

• True

• False

When looking at advertising "purchase" reviews are the most reliable.

• True

• False

What is One way a consumer can avoid impulse buying?

• Shop without a budget in mind.
• Conduct Pre-Purchase research

• Buy items on sale regardless of need.
• Browse online stores aimlessly.

Which organization is known for providing consumer protection and business accreditation?

• Federal Trade Commission

• Better Business Bureau

• Consumer Protection Agency

• National Consumer League

This is an example of a _________

• Need

• Want

Water is an example of a _________

• Need

• Want

What is Behavioral Economics?

• Behavioral economics focuses solely on market trends.
• Behavioral economics ignores human emotions in decision-making.
• Behavioral economics is a branch of mathematics.
• Behavioral economics studies the impact of psychological factors on economic decision-making.

What is a budget?

• A budget is a list of all the products a company sells.
• A budget is a financial plan for managing income and expenses.
• A budget is a type of investment strategy.
• A budget is a document for tracking employee performance.

Which of the following is an example of a 'want' rather than a 'need'?

• Food

• Water

• Luxury car

• Shelter