Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Finances ch 5
| Question | Answer |
|---|---|
| When faced with a threat, our brain generally responds in one of three ways: fight, ___, or freeze. | Flight |
| Think of the amygdala as the screaming ___. | Child |
| The prefrontal cortex is like the ___ in the driver's seat. | Adult |
| The first key question our brains ask is: Am I ___? | Safe |
| The second key question our brains ask is: Do I ___? | Belong |
| The third key question our brains ask is: Does this ___ good? | Feel |
| Amygdala | The part of your brain that helps regulate your stress responses. |
| Prefrontal Cortex | The part of your brain that controls memory, impulses, and thoughts. |
| How many minutes does it take for the human system to return to normal after a fight, flight, or freeze response. | 20 to 30 minutes. |
| Marketers ___ us that we don't belong. | Convince |
| Marketers ___ us better than we do. | Know |
| Companies know you're more likely to buy when you're ___. | Afraid |
| You can take the ___ back. | Power |
| Talk to yourself in the ___ person to distance yourself from impulse purchases. | Third |
| The most logical thing you can know is that you don't make logical ___. | Decisions |
| Impulse Buying | Buying anything without planning to do so in advance. |
| Buyer's Remorse | A feeling of guilt, regret, or unease after making a purchase. |
| Consumer Awareness | Refers to a buyer's knowledge of a product or company. It allows the buyer to make informed choices. |
| What amount do Americans spend a year on their impulse purchases? | $2,100 |
| Discretionary spending | Buying nonessential goods and services. |
| Nondiscretionary spending | Buying things of basic needs. |
| Salespeople are ___ to continue you to buy. | Trained |
| Companies pay to have their products placed ___. | Strategically |
| The products you buy tell a ___ about you. | Story |
| Never ___ just to save. | Spend |
| Making a purchase has become so easy that spending money is ___. | Painless |
| ___ spenders ask, "How much?" | Wise |
| Marketing | The process of communicating the value of a product or service to customers. |
| What colors red, blue, and green matter in marketing? | Red increases heart rate, thus gathering the customer's attention. Blue and Green are calmer colors and create a sense of reliability and resolution. |
| What strategies to marketers use to get results? | They make it their business to know where their customers spend a lot of time and the marketing methods they respond to most. |
| A lot of people would rather just buy whatever it is just to avoid hurting someone's feeling, but you can still say ___. | No |
| Retail Therapy | The shopping people do to lift their mood when they're discontent. |
| How to keep the prefrontal cortex under control with companies using impulse? | You need a budget. |
| What percentage of Americans make spending decisions based on their emotions? | 75% |
| Consumerism | They theory that spending money and consuming goods is good for the economy. |
| The total consumer spending | More than $16 trillion, making up almost 70% of the U.S gross domestic product (GDP). |
| Retargeting | Aka remarketing, is a form of online advertising that keeps a company's product in front of it's target audience by following them all over the web and across multiple channels. |
| Brand Recognition | The public's ability to recall an drecognize a brand by its logo, jingle, packaging, or name. |
| What was the trajected growth of mobile pay from 2019 to 2024? | $1.1 trillion to over #3.1 trillion |
| Self-Awareness: Will this add ___ to my life? | Value |
| Affordability: Am I buying this in my ___? | Budget |
| Research: Is this the ___ option, retailer, and price? | Best |
| Motive: Am I buying this for the ___ reason? | Right |
| Timing: Is ___ the time to buy it? | Time |
| We can't make decisions out of ___ | Impulse |
| Adjust your motive, budget, lifestyle, and ___ until you can say yes to all five SMART questions. | Patience |
| Most purchases are required by law to come with what? | A written warranty |
| Manufacturer's Warranty | A promise from the manufacturer that a product will be replaced or repaired if it's faulty. |
| Extended Warranty | Extra coverage for the repair or replacement of items purchased. |
| Is it a good idea to spend money on extended warranties? | In short, No |
| Opportunity Cost | The financial opportunity that is lost when you choose to do something else with your money. |
| Why is it best to stay away from extended warranties? | Because they're way over-priced, half of it only goes to the salesperson's comission. |
| What are some methods to protect your purchases? | Read and keep the manual, Keep the receipt date, and register the item online. |
| Card Fraud | The unauthorized used of your debit or credit card number and PIN or the forging of your signature. |
| Identity Theft | The act of fraudulently gaining and using the personal information of someone else, usually for financial gain. |
| How many breached records exposed sensitive personal identity information in 2019? | Almost 34 million |
| Only buy things ___ when your device is connected to a secure Wi-Fi Network. | Online |
| Using an unsecured network opens you up to all kinds of ___. | Trouble |
| Don't buy things or enter your debit card if you're on a free ___ network. | Public |
| The "s" in HTTPS stands for ___. | Secure |
| Large retailers are huge targets for ___. | Hackers |
| Identity thieves attach card skimmers to card readers at ___. | Gas Stations and ATMs. |
| What to do the next time you pull up to the pump? | Check out the card reader before you insert your card. |
| If you lost your card, or stolen.. | You should let your bank know that your card might be compromised as soon as possible. |
Created by:
user-2005084