Consumer Skills Review

A pack of 24 pencils is more expensive than 12 pencils, but why could buying the 24 pack be the better deal?

• The price of each pencil, or the unit price, is actually cheaper in the 12 pack.

• The price of each pencil, or the unit price, is actually cheaper in the 24 pack.

• The 24 pack comes with a carrying case.

• This statement is false. Buying fewer pencils will always be a better deal.

Which of the following is NOT a useful strategy when making an informed purchase?

• Calculate the unit price of the product.

• Purchase a product based on a social media influencer.

• Read the online reviews of the product and ask trusted friends who use it.

• Compare your option to similar products.

Making a good purchasing decision requires __________.

• comparing the prices of similar items

• reading reviews of the product

• waiting until the product is on sale, if possible

• All of the above

What is the primary benefit of creating a budget before making a purchase?

• A) It helps you avoid impulse buying.

• B) It allows you to buy more expensive items.

• C) It ensures you always have cash on hand.

• D) It guarantees you will save money.

Which of the following is a key factor in determining the value of a product?

• A) The brand name

• B) The price

• C) The quality

• D) The popularity

Why is it important to compare prices from different stores before buying a product?

• A) To find the cheapest option available

• B) To ensure you get the best quality

• C) To support local businesses

• D) To avoid buying counterfeit products

What does the term 'unit price' refer to in consumer shopping?

• A) The total price of a product

• B) The price per unit of measure

• C) The price after discounts

• D) The price including tax

Which of the following is NOT a benefit of reading product reviews before purchasing?

• A) Understanding product features

• B) Learning about user experiences

• C) Guaranteeing product satisfaction

• D) Identifying potential issues

What is a common consequence of impulse buying?

• A) Saving money

• B) Regret and buyer's remorse

• C) Finding better deals

• D) Increased satisfaction

How can consumers protect themselves from online scams?

• A) By using secure payment methods

• B) By sharing personal information freely

• C) By ignoring website security warnings

• D) By clicking on all promotional links