02.05 How Can I Spend Money Wisely Quiz – Flashcards
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It is less important to account for factors like warranties and durability when purchasing a
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nondurable good-
A nondurable good has a lifespan of less than three years. It is less important to account for factors like warranties and durability when purchasing nondurable goods.
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A common marketing strategy used by retailers to make products appear more attractive, while customers really pay the same price, is to list a $200 item for
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$20 per week for 10 weeks-
$20 per week for ten weeks is another way to say $200. Dividing the price over time such as by the day, week, or month can make a larger price tag look more manageable. Retailers use this strategy to make expensive products appear more attractive.
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A common marketing strategy used by retailers to make products appear more attractive is to list an $8.00 item for
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$7.99-
A product selling for $7.99 looks more attractive to many customers than the same product selling for $8.00, even though the difference is only one cent.
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Why might Alexandria choose a local movie theater when she could see the same movies for less at a corporate establishment?
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She prefers to support local business, even at an added cost.-
Most people take several things into consideration when making a choice. These include the price of a good or service, the price of alternatives or substitutes, their own income, and personal preferences. In this scenario, Alexandria has a personal preference to support local business, even at an added cost.
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Walking through the grocery store, Ramon sees a "buy 2, get 1 free" deal on laundry detergent. Even though he currently has plenty of detergent he decides to take home all three bottles. Ramon's decision seems to have been based mostly on
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the sale price offered for the detergent-
Most people take several things into consideration when making a choice. These include the price of a good or service, the price of alternatives or substitutes, their own income, and personal preferences. In this scenario, Ramon's decision seems to have been based mostly on the sale price offered for the detergent.
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Typically, Joseph buys a single tire at a time for his truck. However, he sees an advertisement for a "buy 3, get 1 free" offer from a local tire shop and decides to take advantage of the deal. Joseph's decision is mostly based on
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the sale price of the tires
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A common marketing strategy used by retailers to induce customers to buy multiple copies of a product is to list a $3.00 item for
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two for $6.00-
Signs listing products as two for $6.00 encourage shoppers to buy twice as much, even if the price of one unit is still $3.00. Consumers often assume they can only get the deal by buying two units.
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It is most important to account for factors like warranties and durability when purchasing a
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durable good-
A durable good is an item that is not consumed or destroyed in use and can be used for a longer period of time, usually three or more years. It is most important to account for factors like warranties and durability when purchasing a durable good.
question
Why might Alexandria choose a local movie theater when she could see the same movies for less at a corporate establishment?
answer
She prefers to support local business, even at an added cost.-
Most people take several things into consideration when making a choice. These include the price of a good or service, the price of alternatives or substitutes, their own income, and personal preferences. In this scenario, Alexandria has a personal preference to support local business, even at an added cost.
