Spending

Question 1

Why do prices increase when demand for a product is high?

Revolt · Accepted Answer

B: Companies know that people will be willing to spend more to get an in-demand product.

Question 2

Which details apply to a financing contract? Check all that apply. requires a credit checkare always less expensive than using a credit cardincludes interest rate informationrequires a signature for rent-to-own agreementscan be broken at any time

Revolt · Accepted Answer

18576,18578,18579

Question 3

When companies spend millions of dollars developing logos and slogans, or use celebrity endorsements to encourage consumers to buy particular products, this is called

Revolt · Accepted Answer

C: product branding.

Question 4

Which option below is not a potential risk of purchasing a used car?

Revolt · Accepted Answer

C: used cars can have lower initial cost

Question 5

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?

Revolt · Accepted Answer

C: one case of 24 sodas at $18.50

Question 6

Read the scenario.Brad has a steady job, earns a solid income, and plans to live in a nearby city for the long term. He is looking to purchase both a car and a place to live, and he is very interested in building up equity and credit.

Revolt · Accepted Answer

A: buying both a car and a home

Question 7

The most economical way to purchase large items, such as furniture, is to buy with.

Revolt · Accepted Answer

cash

Question 8

Read the scenario.Raoul has just been promoted to a supervisor’s position, which is a steady job. He likes to enjoy life, take vacations, and change things up every now and then. That’s why he will not have a lot of extra money to spend on repairs and maintenance on his car.

Revolt · Accepted Answer

D: lease a new car.

Question 9

Which statements apply to leasing a car? Check all that apply.The car may be driven as much as needed.Payments are generally higher than buying.There are mileage restrictions on the car.You must return the car after the lease ends.There are penalties for ending the lease early.You can sell the car to someone else after the lease ends.

Revolt · Accepted Answer

C: There are mileage restrictions on the car.; D: You must return the car after the lease ends.; E: There are penalties for ending the lease early.

Question 10

The point at which it is no longer advantageous to buy in bulk is known as marginal

Revolt · Accepted Answer

C: benefit.

Spending Answers

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