Which of these accurately describes a common relationship between consumers and subscription services?

Consumers forget how many subscriptions they have and how much they cost

Which of these qualities should be LEAST important when considering purchasing a product?

How many of your friends have the product

All of these are potential outcomes of identity theft EXCEPT…

Someone pretending to be you could go to your workplace and replace you

Which statement is TRUE about the hidden fees consumers frequently encounter while making purchases?

Hidden fees are a widely accepted practice despite customer dislike

All of these are benefits of buying goods second hand EXCEPT…

Used goods typically come with better warranties than new products

All of the following are PRACTICAL strategies to reduce the influence of advertisements EXCEPT…

Avoid using the internet completely

All of these are red flags that someone is likely a scammer EXCEPT…

They respond to an inquiry you made regarding your bank account

All of these are common ways credit card information is stolen EXCEPT…

Scammers calling your bank pretending to be you

All of these are ways that social media has an impact on teen spending EXCEPT…

Influencers typically encourage consumers to save money rather than spend

Why do you need to be cautious when scanning QR codes with your phone or mobile device?

QR codes can link to a fake website that installs malware on your device

Which of these methods of shopping has the LARGEST negative impact on the environment?

Looking for the product you want in stores and then buying it online

What should you do FIRST if you suspect your personal information has been compromised?

File an identity theft report with the FTC

studbud

Consumer Skills

20 termsStudBud Administration22,481 plays

A #quiz targeted towards #highschool students to check for understanding in the basics of #consumerskills, how and why we make the choices we do, and how to be a more informed consumer. Refer to ngpf.org/curriculum/consumerskills/ for more great FREE financial eduction resources!

Flashcards20 cardsFPractice quizPHost liveL

Questions 20

Answers

1
Which of these accurately describes a common relationship between consumers and subscription services?
Consumers forget how many subscriptions they have and how much they cost
Consumers have been spending less on subscriptions in recent years
Consumers tend to overestimate what they pay in subscriptions each month
Consumers tend to save money by signing up for lots of trial subscriptions
2
Which of these qualities should be LEAST important when considering purchasing a product?
How long the product will last
How many of your friends have the product
The quality of the product
The performance of the product
3
Which of the following products are most Americans likely to buy after seeing it on social media?
Cars
Electronics
Clothes
Home goods
4
When a store agrees to sell their product at a lower price being offered at another retailer, this is called…
Price wavering
Price gouging
Price matching
Price deflation
5
All of these are potential outcomes of identity theft EXCEPT…
Someone could access your bank account and withdraw your funds
A new loan could be taken out in your name
You might find it more difficult to obtain insurance
Someone pretending to be you could go to your workplace and replace you
6
Which statement is TRUE about the hidden fees consumers frequently encounter while making purchases?
Hidden fees cost businesses millions of dollars in lost sales annually
Hidden fees are illegal in most states in the U.S.
Hidden fees are rarely successfully disputed and not worth the effort
Hidden fees are a widely accepted practice despite customer dislike
7
All of these are traits teens found important in influencers they follow EXCEPT…
They are authentic
They have an attractive style
They are funny
They have strong credentials
8
All of these are benefits of buying goods second hand EXCEPT…
Used goods typically come with better warranties than new products
Marketplace groups exist to give or exchange goods for free
Thrift stores often have the unique styles and fashions
Second hand goods are often much cheaper than a new product
9
All of the following are PRACTICAL strategies to reduce the influence of advertisements EXCEPT…
Use a private or incognito browser when shopping
Pause before making a purchase to evaluate if you actually need it
Avoid using the internet completely
Unsubscribe from shopping emails
10
All of these are red flags that someone is likely a scammer EXCEPT…
They threaten to report you to law enforcement authorities
They ask you for personal or financial information
They have an urgent need for money
They respond to an inquiry you made regarding your bank account
11
All of these are common ways credit card information is stolen EXCEPT…
Scammers calling your bank pretending to be you
Accessing your bank account on a public wi-fi network
Phishing emails requesting personal information
A data leak revealing your personal information
12
All of these are common dark patterns EXCEPT…
Sneak into basket
Privacy Zuckering
Confirmshaming
Leapfrogging
13
All of these are ways that social media has an impact on teen spending EXCEPT…
Social media constantly nudges consumers to buy products they have viewed
Influencers typically encourage consumers to save money rather than spend
Consumers are influenced to buy items related to appearance or experiences
Social media has made it easier than ever to buy immediately on impulse
14
Why do you need to be cautious when scanning QR codes with your phone or mobile device?
QR codes can link to a fake website that installs malware on your device
QR codes always link to unsecured websites
QR codes automatically share your data with the link address
QR codes automatically allow scammers to access all your photos and videos
15
TRUE or FALSE: Older people (ages 70-79) lose money MORE often than younger people (ages 20-29)?
TRUE
FALSE
16
This way of influence claims someone is an expert even if they may not be
Scarcity
Social Proof
Authority
Reciprocity
17
Which of these methods of shopping has the LARGEST negative impact on the environment?
Buying exclusively online with slower shipping
Looking for the product you want in stores and then buying it online
Looking for the product you want in stores and purchasing it there
Buying exclusively online with expedited shipping
18
All of these are strategies of comparison shopping EXCEPT…
Reading reviews
Shopping exclusively online
Considering the brand reputation
Checking competitor prices
19
What should you do FIRST if you suspect your personal information has been compromised?
Close all of your bank accounts
Go back to the last store you visited and look for clues
File an identity theft report with the FTC
Shred all of your credit cards
20
Which advertising tactic motivates our brains by increasing dopamine levels every time we try our luck?
Liking
Installment Payments
Gamification
Scarcity

Consumer Skills Flashcards | StudBud

Consumer Skills

20 termsStudBud Administration22,481 plays

Flashcards20 cardsFPractice quizPHost liveL

Questions 20

Answers

1
Which of these accurately describes a common relationship between consumers and subscription services?
Consumers forget how many subscriptions they have and how much they cost
Consumers have been spending less on subscriptions in recent years
Consumers tend to overestimate what they pay in subscriptions each month
Consumers tend to save money by signing up for lots of trial subscriptions
2
Which of these qualities should be LEAST important when considering purchasing a product?
How long the product will last
How many of your friends have the product
The quality of the product
The performance of the product
3
Which of the following products are most Americans likely to buy after seeing it on social media?
Cars
Electronics
Clothes
Home goods
4
When a store agrees to sell their product at a lower price being offered at another retailer, this is called…
Price wavering
Price gouging
Price matching
Price deflation
5
All of these are potential outcomes of identity theft EXCEPT…
Someone could access your bank account and withdraw your funds
A new loan could be taken out in your name
You might find it more difficult to obtain insurance
Someone pretending to be you could go to your workplace and replace you
6
Which statement is TRUE about the hidden fees consumers frequently encounter while making purchases?
Hidden fees cost businesses millions of dollars in lost sales annually
Hidden fees are illegal in most states in the U.S.
Hidden fees are rarely successfully disputed and not worth the effort
Hidden fees are a widely accepted practice despite customer dislike
7
All of these are traits teens found important in influencers they follow EXCEPT…
They are authentic
They have an attractive style
They are funny
They have strong credentials
8
All of these are benefits of buying goods second hand EXCEPT…
Used goods typically come with better warranties than new products
Marketplace groups exist to give or exchange goods for free
Thrift stores often have the unique styles and fashions
Second hand goods are often much cheaper than a new product
9
All of the following are PRACTICAL strategies to reduce the influence of advertisements EXCEPT…
Use a private or incognito browser when shopping
Pause before making a purchase to evaluate if you actually need it
Avoid using the internet completely
Unsubscribe from shopping emails
10
All of these are red flags that someone is likely a scammer EXCEPT…
They threaten to report you to law enforcement authorities
They ask you for personal or financial information
They have an urgent need for money
They respond to an inquiry you made regarding your bank account
11
All of these are common ways credit card information is stolen EXCEPT…
Scammers calling your bank pretending to be you
Accessing your bank account on a public wi-fi network
Phishing emails requesting personal information
A data leak revealing your personal information
12
All of these are common dark patterns EXCEPT…
Sneak into basket
Privacy Zuckering
Confirmshaming
Leapfrogging
13
All of these are ways that social media has an impact on teen spending EXCEPT…
Social media constantly nudges consumers to buy products they have viewed
Influencers typically encourage consumers to save money rather than spend
Consumers are influenced to buy items related to appearance or experiences
Social media has made it easier than ever to buy immediately on impulse
14
Why do you need to be cautious when scanning QR codes with your phone or mobile device?
QR codes can link to a fake website that installs malware on your device
QR codes always link to unsecured websites
QR codes automatically share your data with the link address
QR codes automatically allow scammers to access all your photos and videos
15
TRUE or FALSE: Older people (ages 70-79) lose money MORE often than younger people (ages 20-29)?
TRUE
FALSE
16
This way of influence claims someone is an expert even if they may not be
Scarcity
Social Proof
Authority
Reciprocity
17
Which of these methods of shopping has the LARGEST negative impact on the environment?
Buying exclusively online with slower shipping
Looking for the product you want in stores and then buying it online
Looking for the product you want in stores and purchasing it there
Buying exclusively online with expedited shipping
18
All of these are strategies of comparison shopping EXCEPT…
Reading reviews
Shopping exclusively online
Considering the brand reputation
Checking competitor prices
19
What should you do FIRST if you suspect your personal information has been compromised?
Close all of your bank accounts
Go back to the last store you visited and look for clues
File an identity theft report with the FTC
Shred all of your credit cards
20
Which advertising tactic motivates our brains by increasing dopamine levels every time we try our luck?
Liking
Installment Payments
Gamification
Scarcity