Which activity is done in Step 2 of comparison shopping?
answer
Assess the purchase objectively.
question
Why do prices increase when demand for a product is high?
answer
Companies know that people will be willing to spend more to get an in-demand product.
question
Which statements apply to leasing a car? Check all that apply.
answer
You must return the car after the lease ends.
There are penalties for ending the lease early.
There are mileage restrictions on the car.
question
Which strategy best helps a famous brand company reach consumers?
answer
advertising nationally
question
A monthly fixed rate mortgage payment
answer
never changes.
question
This chart shows the actual pricing history for three items.
For which product(s) would it be most beneficial to wait before buying?
answer
smartphone
question
Building equity in a home is a good thing because
answer
equity in a home increases the homeowner's net worth.
question
Read the scenario.
Brad has a steady job, earns a 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.
Which of the following illustrates the most economically sound choice for Brad?
answer
buying both a car and a home
question
Why might people choose to rent a home rather than buy a home?
answer
They may be relocated for a job.
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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