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 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
A monthly fixed rate mortgage payment
answer
never changes
question
At what point does buying in bulk stop being a wise spending choice?
answer
when the consumer buys more than is needed
question
Which strategy best helps a company reach their consumers?
answer
national advertising
question
Based on this scenario, Raoul should
answer
lease a new car.
question
Building equity in a home is a good thing because
answer
equity in a home increases the homeowner's assets.
question
Which is the best question to ask when deciding whether to lease or buy a car?
answer
How long do I want the car?
question
When you buy in bulk, the price per individual item .
answer
decreases
question
For which product(s) would it be most beneficial to wait before buying?
answer
smartphone
question
It might cost less to purchase a new car rather than a used car because
answer
used cars are more likely to need repairs.
question
Which activity is done in Step 2 of comparison shopping?
answer
Assess the purchase objectively.
question
Mr. and Mrs. Atoll are planning a party for 10 people and want to make sure they have enough soda for everyone to have two bottles. Which of the following makes the most economic sense?
answer
one case of 24 sodas at $18.50
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