Consumer Economics Ch 2 Assessment

51 Questions | Total Attempts: 47

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Economics Quizzes & Trivia

Consumer Management Skills


Questions and Answers
  • 1. 
    Sending a daughter through college is an example of a long-term goal.
    • A. 

      True

    • B. 

      False

  • 2. 
    To achieve a goal successfully, you should ignore possible problems.
    • A. 

      True

    • B. 

      False

  • 3. 
    Consumer choices are usually based on needs alone.
    • A. 

      True

    • B. 

      False

  • 4. 
    All families go through the same stages of the family life cycle in the same order.
    • A. 

      True

    • B. 

      False

  • 5. 
    Needs, wants, values, and standards all enter into the process of establishing priorities.
    • A. 

      True

    • B. 

      False

  • 6. 
    The way to translate your priorities into action is by setting standards.
    • A. 

      True

    • B. 

      False

  • 7. 
    Habit is always a poor basis for making decisions.
    • A. 

      True

    • B. 

      False

  • 8. 
    Decisions about money management are affected by the size of the family.
    • A. 

      True

    • B. 

      False

  • 9. 
    U.S. consumers would not be affected by an economic problem in Japan.
    • A. 

      True

    • B. 

      False

  • 10. 
    Advertising can create consumer desire for goods and services that are not needed.
    • A. 

      True

    • B. 

      False

  • 11. 
    Cultural factors can affect consumer choices.
    • A. 

      True

    • B. 

      False

  • 12. 
    You should evaluate consumer informationm, even from reliable sources, before allowing it to influence your judgment.
    • A. 

      True

    • B. 

      False

  • 13. 
    If an advertised "miraculous" product sounds too good to be true, it probably is.
    • A. 

      True

    • B. 

      False

  • 14. 
    "This study suggests a link etween high cholesterol and heart disease" has the same meaning as "This study proves that high cholesterol causes heart disease".
    • A. 

      True

    • B. 

      False

  • 15. 
    Reliable information is often anonymous.
    • A. 

      True

    • B. 

      False

  • 16. 
    Goals may be all of the following EXCEPT...
    • A. 

      Long term

    • B. 

      Short term

    • C. 

      Realistic

    • D. 

      Unchangeable

  • 17. 
    Things you desire that are not required in your life are...
    • A. 

      Goals

    • B. 

      Priorities

    • C. 

      Standards

    • D. 

      Wants

  • 18. 
    Tools and computers are examples of ____ resources.
    • A. 

      Human

    • B. 

      Material

    • C. 

      Natural

    • D. 

      Renewable

  • 19. 
    To conserve means to _____.
    • A. 

      Add on

    • B. 

      Specialize

    • C. 

      Throw away

    • D. 

      Use less

  • 20. 
    If one well-paid roommate pays for all the food while an unemployed roommate shops and cooks, they are ____ resources.
    • A. 

      Conserving

    • B. 

      Exchanging

    • C. 

      Expanding

    • D. 

      Substituting

  • 21. 
    The correct sequence for the steps in the management process is ____.
    • A. 

      Organizing, planning, implementingm, evaluating

    • B. 

      Planning, evaluating, organizing, implementing

    • C. 

      Planning, organizing, evaluating, implementing

    • D. 

      Planning, organizing, implementing, evaluating

  • 22. 
    Bartering does NOT involve...
    • A. 

      Exchanging

    • B. 

      Goods or services

    • C. 

      Money

    • D. 

      Negotiation

  • 23. 
    All of the following are natural resources EXCEPT...
    • A. 

      Air

    • B. 

      Houses

    • C. 

      Trees

    • D. 

      Water

  • 24. 
    An impulse purchase involves...
    • A. 

      Consulting others

    • B. 

      Following a whim

    • C. 

      Planning ahead

    • D. 

      Weighing pros and cons

  • 25. 
    Examples of how social factors can influence consumer decisions include all of the following EXCEPT...
    • A. 

      Conspicuous comsumption

    • B. 

      Fads

    • C. 

      Internet shopping

    • D. 

      Status symbols

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