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Why might people choose to rent a home rather than buy a home?
A
They have a lot of money saved for a down payment.B
The property maintenance is the owner's responsibility.C
The interest rates on equity are too high.D
They have a long-term commitment to the area.2
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Mr. and Mrs. Atoll are planning a party for 10 people and want to make sure they have enough soda for everyone to have two bottles. Which of the following makes the most economic sense?
A
20 bottles of soda at $1.50 eachB
4 six-packs of soda at $5.00 eachC
one case of 24 sodas at $18.50D
two cases of 24 sodas at $18.50 each3
At what point does buying in bulk stop being a wise spending choice?
A
when the consumer has a lot of space to store bulk itemsB
when costs rise too quickly due to demandC
when bulk items are not on sale anymoreD
when the consumer buys more than is needed4
Which option below is not a potential risk of purchasing a used car?
A
used cars can require repairs soonerB
shorter lifespans of the engine and transmissionC
used cars can have lower initial costD
unexpected issues may arise5
The point at which it is no longer advantageous to buy in bulk is known as marginal
A
cost.B
tipping.C
benefit.D
error.6
This chart shows the actual pricing history for three items.
A
game systemB
smartphoneC
DVDD
It's most beneficial to buy all now.7
increasesdecreasesstays the same
A
increasesB
decreasesC
stays the same8
Why do prices increase when demand for a product is high?
A
Companies know they can make more money by selling fewer products at higher prices.B
Companies know that people will be willing to spend more to get an in-demand product.C
Companies take advantage of the demand to make people spend more money on excess products.D
Companies know they can stop production and still make money on sales.9
What is the purpose of comparison shopping?
A
ensuring you are not buying out of emotionB
attempting to find the best deal on a productC
determining whether you truly need a productD
reading reviews to make sure a product is good10
A monthly fixed rate mortgage payment
A
could change.B
never changes.C
increases annually.D
decreases annually.Did you find these answers helpful?
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