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Chapter 18 Test Review Flashcards | StudBud
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Chapter 18 Test Review
Chapter 18 Test Review
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Flashcards
16 cards
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Questions
16
Answers
1
Which of the following is a benefit to using or having credit?
Borrowing more than you are able to pay back is a safe path.
Teaches financial discipline if responsibly used.
High Interest Rates.
May lead to perpetual debt if not handled correctly.
2
Carrying a list/carrying cash are productive measures that can combat impulse buying.
False
True
3
Which of the following would be considered a want rather than a need on a personal budget?
Food
House Insurance
Gas
Internet
4
The ultimate goal of one’s personal budget should be to have more expenses than income.
True
False
5
Government-issued bonds are typically the safest bonds to invest in as a consumer.
False
True
6
Which of the following is NOT considered a typical source of credit?
Finance Companies
Banks
Credit Unions
Investment Firms
7
Which of the following is NOT one of consumer’s rights stated in the Consumer Bill of Rights?
Economic Freedom
To be Informed
Safety
Environmental Health
8
What does a stock’s share value depend on to be considered valuable?
The financial loss of all investments.
The investor's performance in transactions.
The company's performance in the market.
The aptitude of the company to sell frequently.
9
Walking into a store and spontaneously buying something is an example of calculated buying.
True
False
10
The ultimate goal of balancing and assessing your personal budget should be to have:
More Expenses than Income
More Income and more Expenses
Less Income and fewer Expenses
More Income than Expenses
11
Which of the following offers a method of how one can avoid impulse buying?
Disregarding needs and wants altogether.
Planning and tactically purchasing goods/services.
Letting others pick goods/services for them.
Emphasizing wants over needs.
12
Consumers are important to society as a whole because:
Producers need someone to buy products from.
Producers compete directly with for ownership of economy.
They operate under society's strict rules of business.
Without them, there is no economy or business.
13
Which of the following was NOT part of JFK’s original proposal for the Consumer Bill of Rights?
Consumer Education
Safety
To Choose
To be Heard
14
Which of the following should be the first expense that you account for in your personal budget
Saving money
Spending money
Discretionary money
Investing money
15
Which of the following is known as a credit card that essentially works as a check?
Checking card
Credit card
Savings card
Debit card
16
Calculating your spending money should be the first priority when creating your personal budget
False
True
