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Consumers final
How do banks earn profit
Sticker price
Consumers final
80 terms
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80 cards
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Practice quiz
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Questions
80
Answers
1
Sticker price
Manufacturers suggested price
The buyers suggested price
Dealers suggested price
The price for gas
2
How do banks earn profit
Selling interest in exchange for financial services
They ask for donations
They get money from the government
Selling financial services in exchange for interest
3
Net income
After taxes
What is taxed
Before taxes
All of the above
4
Unsubsidized loan
Based on some financial need
Not based on financial need
Based on financial need
A scholarship
5
Invoice price
Amount the gas costs
Amount the manufacturer paid
Amount the buyer pays
Amount the dealer paid to buy the car
6
Brand advertisement
To appeal to emotions
Comparing qualities
To educate
Cause you to remember a name
7
What is a Warrenty
The promise of being able to return with in a certain amount of days
The promise of protection against your belongings
The promise of being able to return without a receipt
The promise that a product will meet a certain quality standard
8
Where does the fair price of a car lie
Invoice price + 10%
Invoice price + 3%
Invoice price + 5%
Invoice price
9
What’s the EPA
Environmental protection agensy
Environmental Protection Appointment
Environmental pollution egency
Environmental Protection Agency
10
Short-term goals
Don’t know, don’t care
Things you accomplish within a year
Most important of your long term goals
Things you accomplish over a life time
11
Defensive advertisement
Cause you to remember a name
To educate
To appeal to emotions
To counter attacks
12
Recommended percentage for buying a home
30%
5%
25%
10%
13
What’s the CPSC
Consumer product safety commerce
Consumer product safety company
Consumer product safety commission
Consumer product safety committee
14
Should a home be inspected before buying
True
False
15
The decision making process
Apply, study, sift, search, specify
Specify, search, sift, select, study, apply
Specify, sift, search, select, study, apply
Sift, select, apply, study, search, specify
16
Legal things to ask on job applications
Education level, experience, willing to travel
Age, race, disability, religion, sex
17
How can consumers affect what product and services are offered
Through supply and demand
Because they make things
Because they can
Because they buy things
18
Why should you get an inspection for a home before buying
It’s not necessary
To make sure there’s no problems
To buy it for you
To see if you can get a loan
19
How is your creditworthiness measured
Your ability to get a loan
Your ability to not get a loan
Your liability to repay a loan
Your liability to not repay a loan
20
Recommended percentage for savings
2%
5%
10%
20%
21
COBRA
Government funded, low income and disability
Most expensive, you purchase your own insurance
Lets people continue to have their insurance after losing their job
Least expensive, employer offers and pays for part
22
The purpose of a cover letter
A letter of introduction about yourself
A brief summary of your job qualifications
A recommendation from someone else
A person an employer contacts about you
23
Term insurance
For two people, only paid out if both people pass away
A small whole life policy, intended for funeral
Has a specific end date
Coverage for your whole life
24
Property tax
Taxes on the value of the property
Taxes that increase the value of a property
Taxes that decrease the value of a property
Taxes that you have to pay
25
Options
Features you choose to have or not
Characteristics of a particular model
Characteristics of what you can choose to have
Features that are only on that car
26
The four types of economic systems
Mixed, command, Marley, and traditional
Traction, collide, machine, and mixture
I don’t know, they’re all the same
Market, traditional, command, and mixed
27
Flexible expenses
Amounts you’re committed to spend each month
Amount you can only spend
Amounts you can choose to spend or not
Amount you don’t want to spend
28
The law of supply
Producers don’t care
Producers will offer more at higher prices than lower
Producers will produce the same at either high and low prices
Producers will offer more at lower prices than higher
29
Gift tax
Takes that those who receive gifts pay
Taxes that those who need gifts pay
Taxes that the giver of gifts pay
Taxes that those who want gifts pay
30
Right to be heard
Allows you to state your opinion
Allows you to speak
Allows you to know information
Allows you to shut people up
31
Risks that home policies cover
Nothing
Stolen items only
Physical structure, belongings in the home, if someone sues, and medical
Floods, fires, etc
32
Survivorship insurance
Coverage for your whole life
Has a specific end date
A small whole life policy, intended for funeral
For two people, only paid out if both people pass away
33
Right to redress
Right to seek something for something
Right to seek remedies
Right to change your clothes
Right to get new clothes
34
What are your rights as a consumer
Right to buy clothes, drive, safety, freedom
Be heard, informed, freedom, to vote, environment, eat potatoes, opinions
Right to insurance, sleep, have money, have a bank account
Safety, informed, choose, competition, be heard, redress, consumer Econ.
35
How to dress for an interview
Prom dress
Business or business casual
Sweats and a t shirt
Ballgown
36
What’s the FTC
Federal trade commission
Federal trade company
Finally trade collective
Federal trade commerce
37
Comparative advertisement
To appeal to emotions
Cause you to remember a name
To counter attacks
Comparing qualities
38
The saving strategies
Save and invest
Save, pay others, invest
Beg for more money
Pay yourself first, save by numbers, reward yourself, your values,auto save
39
Types of student loans
Direct and indirect
Subsidized and unsubsidized
Super and not super
There’s only one type of loan and it’s just a loan
40
Employer plans
Least expensive, employer offers and pays for part
Lets people continue to have their insurance after losing their job
Government funded, low income and disability
41
What are dependents
A person who is a primary source of income
A person who relies on another as a primary source of income
A person who needs money
A person who has money
42
Deductible
A formal request for compensation
What you much pay before insurance pays
A monthly payment to an insurance company
Document stating the terms and conditions of a contract
43
The goal of a budget
To allow you to enjoy yourself and achieve your goals
It’s useless
To divide your expenses by food and house
To allow for you to not spend money
44
Individual policy
Most expensive, you purchase your own insurance
Least expensive, employer offers and pays for part
Government funded, low income and disability
Lets people continue to have their insurance after losing their job
45
Whole insurance
Coverage for your whole life
Has a specific end date
For two people, only paid out if both people pass away
A small whole life policy, intended for funeral
46
Persuasive advertisement
To counter attacks
Cause you to remember a name
To appeal to emotions
Comparing qualities
47
Burial insurance
Coverage for your whole life
A small whole life policy, intended for funeral
For two people, only paid out if both people pass away
Has a specific end date
48
Illegal to ask during an interview
Age, race, disability, religion, sex
Education level, experience, willing to travel
49
Estate taxes
Taxes on a property
Taxes on a property that are received when someone dies
Taxes that the person who dies pays
Taxes that a family member pays when someone dies
50
Long-term goals
Things you accomplish within a year
Things you accomplish over a lifetime
Idk
Most important of your long term goals
51
Medicaid
Government funded, low income and disability
Least expensive, employer offers and pays for part
Most expensive, you purchase your own insurance
Lets people continue to have their insurance after losing their job
52
How much should your car payment be (%)
25%-30%
10%-15%
20%-25%
15%-20%
53
The point of a co-signer
To have someone else on a document
To have someone set to payoff a loan if you don’t
To have someone to blame for an unpaid loan
To have someone else pay off a loan for you
54
Features
Characteristics you choose to have or not
Characteristics of a particular model
Features of a certain car
Features you choose to have or not
55
The law of demand
Consumers don’t care
Consumers will buy the same amount either high or low
Consumers will buy more at higher prices than lower
Consumers will buy more at lower prices than higher
56
Gross income
None of the above
What is taxed
After taxes
Before taxes
57
Right to competition
Competitions between customers for sellers
Competition between friends
Competition for love
Competition between sellers for customers
58
What does a lease document spell out
It tells you only what you can’t do
The terms for doing something
Don’t read it
Nothing special
59
Pre-existing condition
Chronic illness that you may have after insurance
Chronic illness
Chronic illness that you got after getting insurance
Chronic illnesses that you had prior to getting insurance
60
Right to be informed
Places provide certain information
Allows you to play games
Places should provide accurate labels and information
Allows you to read books
61
Recommended percentage for needs
10%
50%
30%
15%
62
Difference between saving and investing
Saving is over a longer time. Investing is over a shorter time
Too many differences to count
Saving is over a shorter period of time. Investing is over a longer time
They are the same
63
Comprehensive insurance
Helps cover expenses to your vehicle that’s been damaged in an accident
Helps cover expenses to your vehicle that’s been stolen/damaged
64
When are income taxes withheld
When employers need it to cover other taxes
When the employee needs to cover other taxes
When an employer is being mean
When an empire is being mean
65
Informative advertisement
Comparing qualities
To educate
To counter attacks
To appeal to emotions
66
Fixed expenses
Amounts you can only spend
Amounts you’re committed to spend each month
Amounts you don’t want to spend
Amounts you can choose to spend or not
67
Premium
Document stating the terms and conditions of a contract
What you much pay before insurance pays
A monthly payment to an insurance company
A formal request for compensation
68
Recommended percentage for wants
20%
50%
10%
30%
69
Policy
A formal request for compensation
A monthly payment to an insurance company
Document stating the terms and conditions of a contract
What you much pay before insurance pays
70
Collision insurance
Helps cover expenses to your vehicle that’s been stolen/damaged
Helps cover expenses to your vehicle that’s been damaged in an accident
71
Claim
A formal request for compensation
A monthly payment to an insurance company
What you much pay before insurance pays
Document stating the terms and conditions of a contract
72
Right to consumer eduction
Allows you to take a classs
Allows access to information to help you make good buying decisions
Allows you to make buying decisions
Allows access to school
73
Life-span goals
Things you accomplish over your lifetime
Things you accomplish over a year
Most important of your long term goals
Idc
74
Five types of advertisements
Brand, persuasive, dependable
Informative, defensive, communicative, persuasive
Communicative, informative, comparative
Brand, informative, comparative, defensive, persuasive
75
Recommended percentage for renting
10%
5%
30%
20%
76
Right to choose
Right to choose your food
Right to choose your friends
Allows you to choose between competitive products
Right to choose your house
77
Right to safety
Expect a product to be safe
Expect a product to not endanger life or health
Allows you to drive safe
Allows you to be informed
78
Insurance is all about what
Budget management
Health management
Risk management
Money management
79
Excise taxes
Taxes collected when you sell something
Taxes that the government pays
Taxes collected on a sale
Taxes collected on the sale of a good or service
80
Subsidized loan
A scholarship
Based on some financial need
Based on financial need
Not based on financial need
