an examination of how things are the same or different
question
equity
answer
the monetary value of a property or business
question
finance
answer
to buy something on credit
question
installment
answer
a payment is a series that is made over a long period of time
question
lease
answer
a legal agreement allowing a person to use a car or property over a period of time in exchange for payment
question
mortgage
answer
a legal agreement in which a person borrows money for the purchase of a home
question
Which strategy best helps a company seem more popular with consumers?
answer
celebrity endorsement
question
When you buy in bulk, the price per individual item....
answer
....decreases.
question
Read the scenario.
*Brad has a steady job, solid income, and plans to live in a nearby city for the long term. He is looking to purchase both a car and a place to live, and he is very interested in building up equity and credit to add to his assets.*
Which of the following illustrates the most economically sound choice for Brad?
answer
buying both a car and a home.
question
It costs less to purchase a used car than a new car because....
answer
....used cars are more likely to need repairs.
question
What is the purpose of comparison shopping?
answer
attempting to find the best deal on a product
question
For which product(s) would it be most beneficial to wait before buying?
answer
smartphone
question
Which statements apply to financing contracts?
answer
-requires a credit check
-includes interest rate information
-must be signed for rent-to-own agreements
question
Why might people choose to rent a home rather than buy a home?
answer
They may be relocated for a job.
question
Building equity in a home is a good thing because....
answer
....equity in a home increases the homeowner's assets.
question
At what point does buying in bulk stop being a wise spending choice?
answer
when the consumer buys more than is needed
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