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Mr.Murphy 3rd Q. E.
Study guide
| Question/ Definition | Answer/ Term |
|---|---|
| Looking at several brands or models at several different stores. | Comparison Shopping |
| Persons who buy and use goods and services. | Consumers |
| Any type of product that consumers buy, such as food or clothing. | Goods |
| Work that consumers pay to have done, such as hair-styling and repairs. | Services |
| The right to complain to a business and receive a response. | Recourse |
| A written promise that guarantees that a product will meet certain performance and quality. | Warranty |
| Making an unplanned purchase. | Impulse Buying |
| Which of the following is a fixed expense? Rent Food Clothes All of the above | Rent |
| Which of the following is a flexible expense? Installment payments Mortgage payments Recreation Insurance premiums | Recreation |
| A full warranty ____. offers broad coverage of a product includes free repair or replacement of defective parts allows for replacement if the product can't be repaired. All of the above | All of the above |
| Coupons, prizes, and in-store games are examples of ______. promotions rankings special sales advertising | Promotions |
| Direct selling means that consumers buy from a _____. factory outlet store in a shopping mall door-to-door salesperson specialty store | Factory Outlet |
| As a person's goals change, his or her budget will need to change as well. True False | True |
| Learning as much as possible about a product or service before buying it is not important. True False | False |
| Price is the best guide to a product's quality. True False | False |
| The degree to which an asset gains or loses value over a given period of time is called the ________. Asset Rate of Return Liability Stock | Rate of Return |
| Having ________ means someone is willing to loan you money. Principle Credit Collateral Interest | Credit |
| As interest is added to an account balance, it earns interest on the original balance plus the previously earned interest. This is known as ___________. Compunding increasing one's alllowance collecting diversifcation | Compound |
| A _____________ is a type of security that signifies ownership in a corporation. Certificate of Deposit Savings Account 401K Stock | Stock |
| ______________ is an amount paid to use someone's money, usually a percentage of the amount deposited. principle interest savings bonus | Interest |
Created by:
Hannahbryant2002
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