Consumer Economics Ch 2 Assessment

51 Questions | By Mspafford | Updated: Mar 22, 2022 | Attempts: 109

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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