Question 1

Which of the following allows a consumer to easily change to a different car in a "negotiation-free" way for a monthly fee that covers the car payment,insurance,maintenance,and roadside assistance?

Accepted Answer

A)  Car lease
B)  Car purchase
C)  Car subscription
D)  Car loan
E)  Car tradeF) A) and B)
G) All of the above

Question 2

Hector Ramirez has decided he needs a new car so that he has reliable transportation to work.He is getting recommendations from his friends as to what might be a good car to purchase.He is also looking at the Consumer Reports magazine to determine what they recommend as a safe,low maintenance car,and he has searched some websites on the internet as well.What step in the purchasing process is Hector carrying out?

Accepted Answer

A)  Problem identification
B)  Information gathering
C)  Selecting vehicle options
D)  Determining the purchase price
E)  Post-purchase activitiesF) None of the above
G) All of the above

Question 3

An online buying club requires an annual fee of $45 in order to qualify for a 15 percent discount on purchases.What amount would a person have to buy in order to save enough to cover the cost of the membership?

Accepted Answer

A)  $15
B)  $67
C)  $165
D)  $300
E)  $450F) A) and E)
G) A) and B)

Question 4

Consumer information necessary for wise purchasing decisions,such as websites or radio,is commonly provided by:

Accepted Answer

A)  government agencies.
B)  personal contacts.
C)  independent testing organizations.
D)  media sources.
E)  business organizations.F) B) and D)
G) All of the above

Question 5

Steve Franklin recently purchased a stereo system.After a few weeks it overheated,causing a small fire and some minor damage.What actions would you recommend to Steve to resolve his consumer complaint?

Accepted Answer

Answers will vary.See Exhibit 8-7. <img  loading="lazy" src="/assets/images/blured-textbook.svg" class="d-inline m-1" alt="blured image" width="139" height="30"> The ...

Question 6

Federal Trade Commission (FTC) regulations require that:

Accepted Answer

A)  all used cars be sold with a warranty.
B)  used car buyers be informed of whether or not the vehicle comes with a warranty.
C)  used cars with over 100,000 miles be sold only by the individual owner,not by a dealer.
D)  major repairs must be made on all used cars prior to being offered for sale.
E)  the seller of a defective used car pay half the cost of the required repairs.F) B) and E)
G) A) and D)

Question 7

Which of the following is a store-brand product?

Accepted Answer

A)  Bayer aspirin
B)  Walgreen's aspirin
C)  Tylenol
D)  Advil
E)  AleveF) C) and D)
G) All of the above

Question 8

Sally Nash has decided she needs a new car.After doing some research,she has settled on a midsized four door sedan.She likes the Honda Accord and is exploring the features she needs and wants on this car.She is also trying to decide whether she would be better off purchasing a new car,a used car,or leasing a car.She knows that if she purchases it new it would likely last her for many,many years.On the other hand a used car would be a lot cheaper.She is not sure a lease is for her because of the mileage requirements.What step in the purchasing process is Sally carrying out?

Accepted Answer

A)  Problem identification
B)  Information gathering
C)  Evaluating alternatives
D)  Determining the purchase price
E)  Post-purchase activitiesF) A) and B)
G) A) and C)

Question 9

Greg Rossman likes to play golf.This hobby would be an example of a(n) ________ factor that influences his purchasing decision.

Accepted Answer

A)  economic
B)  social
C)  personal
D)  global
E)  financialF) A) and E)
G) C) and D)

Question 10

________ is considered a variable operating cost of an automobile.

Accepted Answer

A)  Depreciation
B)  Interest on auto loan
C)  Insurance
D)  Registration fee
E)  Repairs and maintenanceF) C) and D)
G) D) and E)

Question 11

Which of the following is a social factor that would influence a consumer's buying decision?

Accepted Answer

A)  Hobbies
B)  Inflation
C)  Tax rates
D)  Gender
E)  Marital statusF) All of the above
G) C) and D)

Question 12

Cooperatives are commonly organized to sell:

Accepted Answer

A)  service contracts.
B)  furniture.
C)  auto repair service.
D)  food.
E)  information processing service.F) C) and E)
G) A) and D)

Question 13

The most consistent quality is usually found with national-brand products.

Accepted Answer

A) True 
 B)False

Question 14

When comparing prices,remember that:

Accepted Answer

A)  less store convenience usually means higher prices.
B)  ready-to-use products have higher prices.
C)  large packages are always the best buy.
D)  "sale" always means saving money.
E)  unit pricing can be ignored.F) B) and E)
G) A) and E)

Question 15

A Whirlpool dishwasher is an example of a:

Accepted Answer

A)  national brand.
B)  store brand.
C)  generic brand.
D)  local brand.
E)  regional brand.F) A) and E)
G) A) and B)

Question 16

Small claims courts:

Accepted Answer

A)  hear only class-action suits.
B)  are located in every state.
C)  have no minimum dollar limit on claims.
D)  require the use of an attorney.
E)  require that claims be in excess of $100,000.F) B) and D)
G) A) and D)

Question 17

A scam that involves malicious software or an e-mail attachment that places a virus or worm in the user's computer or in a server that directs traffic on the Internet is called:

Accepted Answer

A)  a foreign scam.
B)  a bogus campus card scheme.
C)  pharming.
D)  an internet pyramid scheme.
E)  phishing.F) B) and E)
G) A) and B)

Question 18

A scam that uses e-mail spam or pop-up messages to deceive you into revealing your credit card number,bank account information,social security number,passwords,or other personal information is called:

Accepted Answer

A)  pharming.
B)  phishing.
C)  Internet pyramid scheme.
D)  bogus "campus card" scheme.
E)  foreign scam.F) A) and D)
G) All of the above

Question 19

Private label products are those that:

Accepted Answer

A)  are sold as government surplus.
B)  require nutritional labeling information.
C)  provide freshness information on the package.
D)  are distributed by all national chain stores.
E)  are sold by one chain of stores.F) A) and B)
G) A) and E)

Question 20

Sarah Wilson wants to purchase a package of shredded cheese at a local store for taco night.Is it better for her to pay $2.72 for 16 ounces or $3.84 for 24 ounces of this product? Explain your answer.

Accepted Answer

Answer will vary Unit price of 16 ounce ...

Exam 8: Consumer Purchasing Strategies and Legal Protection

Which of the following allows a consumer to easily change to a different car in a "negotiation-free" way for a monthly fee that covers the car payment,insurance,maintenance,and roadside assistance?

Correct Answer
verified

Which of the following is a store-brand product?

Correct Answer
verified

Greg Rossman likes to play golf.This hobby would be an example of a(n) ________ factor that influences his purchasing decision.

Correct Answer
verified

A scam that uses e-mail spam or pop-up messages to deceive you into revealing your credit card number,bank account information,social security number,passwords,or other personal information is called:

Correct Answer
verified

Cooperatives are commonly organized to sell:

Correct Answer
verified

A Whirlpool dishwasher is an example of a:

Correct Answer
verified

Sarah Wilson wants to purchase a package of shredded cheese at a local store for taco night.Is it better for her to pay $2.72 for 16 ounces or $3.84 for 24 ounces of this product? Explain your answer.

Correct Answer
verified
Answer will vary Unit price of 16 ounce ...
View Answer

A scam that involves malicious software or an e-mail attachment that places a virus or worm in the user's computer or in a server that directs traffic on the Internet is called:

Correct Answer
verified

________ is considered a variable operating cost of an automobile.

Correct Answer
verified

Steve Franklin recently purchased a stereo system.After a few weeks it overheated,causing a small fire and some minor damage.What actions would you recommend to Steve to resolve his consumer complaint?

Correct Answer
verified
Answers will vary.See Exhibit 8-7. The ...
View Answer

Federal Trade Commission (FTC) regulations require that:

Correct Answer
verified

When comparing prices,remember that:

Correct Answer
verified

Correct Answer
verified

Consumer information necessary for wise purchasing decisions,such as websites or radio,is commonly provided by:

Correct Answer
verified

Correct Answer
verified

Private label products are those that:

Correct Answer
verified

Which of the following is a social factor that would influence a consumer's buying decision?

Correct Answer
verified

Small claims courts:

Correct Answer
verified

An online buying club requires an annual fee of $45 in order to qualify for a 15 percent discount on purchases.What amount would a person have to buy in order to save enough to cover the cost of the membership?

Correct Answer
verified

The most consistent quality is usually found with national-brand products.

Correct Answer
verified

Exam 8: Consumer Purchasing Strategies and Legal Protection

Which of the following allows a consumer to easily change to a different car in a "negotiation-free" way for a monthly fee that covers the car payment,insurance,maintenance,and roadside assistance?

Correct AnswerverifiedShow Answer

Which of the following is a store-brand product?

Correct AnswerverifiedShow Answer

Greg Rossman likes to play golf.This hobby would be an example of a(n) ________ factor that influences his purchasing decision.

Correct AnswerverifiedShow Answer

A scam that uses e-mail spam or pop-up messages to deceive you into revealing your credit card number,bank account information,social security number,passwords,or other personal information is called:

Correct AnswerverifiedShow Answer

Cooperatives are commonly organized to sell:

Correct AnswerverifiedShow Answer

A Whirlpool dishwasher is an example of a:

Correct AnswerverifiedShow Answer

Sarah Wilson wants to purchase a package of shredded cheese at a local store for taco night.Is it better for her to pay $2.72 for 16 ounces or $3.84 for 24 ounces of this product? Explain your answer.

Correct AnswerverifiedAnswer will vary Unit price of 16 ounce ...View AnswerShow Answer

A scam that involves malicious software or an e-mail attachment that places a virus or worm in the user's computer or in a server that directs traffic on the Internet is called:

Correct AnswerverifiedShow Answer

________ is considered a variable operating cost of an automobile.

Correct AnswerverifiedShow Answer

Steve Franklin recently purchased a stereo system.After a few weeks it overheated,causing a small fire and some minor damage.What actions would you recommend to Steve to resolve his consumer complaint?

Correct AnswerverifiedAnswers will vary.See Exhibit 8-7. The ...View AnswerShow Answer

Federal Trade Commission (FTC) regulations require that:

Correct AnswerverifiedShow Answer

When comparing prices,remember that:

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Consumer information necessary for wise purchasing decisions,such as websites or radio,is commonly provided by:

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Private label products are those that:

Correct AnswerverifiedShow Answer

Which of the following is a social factor that would influence a consumer's buying decision?

Correct AnswerverifiedShow Answer

Small claims courts:

Correct AnswerverifiedShow Answer

An online buying club requires an annual fee of $45 in order to qualify for a 15 percent discount on purchases.What amount would a person have to buy in order to save enough to cover the cost of the membership?

Correct AnswerverifiedShow Answer

The most consistent quality is usually found with national-brand products.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Answer will vary Unit price of 16 ounce ...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Answers will vary.See Exhibit 8-7. The ...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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