Unit 2 Review- Financial Literacy

To avoid fraud, individuals should protect their PII, which includes name, date of birth, and social security number, and stands for: 

• Personal Identifiable Information
• Protected Investment Information
• Potential Individual Information
• Pertinant Intelligent Information

Match the advertising tactic with its definition.

• Appeals to the audience's feelings to drive action.

• Impulse Triggers

• Using bright colors and catchy slogans.

• Social Proof

• Utilizes the influence of others to validate a product.

• Emotional Appeals

• Creates urgency by offering products for a short time only.

• Limited Time Offers

• Suggests additional products to enhance the customer's purchase.

• Cross Selling and Upselling

Which type of item should you be considering the resale value for?

• Everyday household items
• Durable Goods

• Perishable food items

What type of shopping involves searching for a product at multiple locations to get the best price?

• Comparison shopping

• Impulse buying
• Bulk purchasing

When deciding to make a purchase, you should all of the following EXCEPT?

• Your budget

• Your needs

• Your priorities

• Public Opinion

• Personal Preferences

The cost of a sweatshirt at Under Armour is $29.99​. This is an example of a ​ (a)   cost.

• fixed
• negotiable

A set of glassware at a yard sale has a suggested price of $5. This is an example of a ​ (a)   ​ cost

• fixed
• negotiable

A nearby home for sale is listed at a price of $299,999. This is an example of a ​ (a)   ​ cost

• fixed
• negotiable

Susan looks at all packaging for her food. She prioritizes grass-fed, humanely raised meat, USDA organic vegetables and certified gluten free grains. Susan is most likely using ​ (a)   as a priority for her food spending decisions.

• food certification labels
• cost
• convenience
• environmental impact
• community economy

Keith chooses to eat at local restaurants over big chain stores. He wants to make sure the money he is spending is staying locally and going to business owners nearby. Keith is most likely using ​ (a)   as a priority for his food spending decisions.

• community economy
• cost
• convenience
• environmental impact
• dietary restrictions