Unit 2 Consumer Skills Flashcards

Fill-in-the-blank practice flashcards generated from the Unit 2 Consumer Skills assessment.

When deciding what to buy, you should not assume that buying the cheapest item is the __________ choice.

smartest

Making a good purchasing decision requires reading reviews, comparing prices, and waiting until the product is on __________ if possible.

sale

When deciding what to buy, you should compare the __________ price of similar items to find the best value.

unit

One of the best ways to get reliable information about a product is searching online __________.

reviews

An advantage of owning a car over leasing one is having no restrictions on the number of __________ to drive.

miles

The best reason for renting a house instead of buying one is planning on living there for a __________ period of time.

short

The price of an individual amount of an item is known as the __________ price.

unit

Calculating the unit price of an item helps you determine the best __________.

deal

Whether leasing or purchasing a vehicle, or renting or buying a home, the FIRST thing you need to do is have your __________ in order.

finances

When renting a home, the person who owns the property is known as the __________.

Landlord

When renting a home, the person who rents the property is known as the __________.

Tenant

Purchasing a product based on a social media __________ is NOT a recommended strategy when making an informed purchase.

influencer

The housing option that gives you more freedom and more responsibility is __________ a house.

Buying

Money paid to cover potential cleaning costs at the end of a lease, as well as damages during occupancy, is a __________ deposit.

security

Renting a product while ownership title remains with the lease grantor is defined as __________.

Leasing

To calculate the unit price of an item, divide the price by the unit __________ of the item.

size

Unplanned buying with little consideration of the product or other options describes __________ Buying.

Impulse

Planned buying with careful consideration of product features, price, and quality describes __________ Shopping.

Comparison

Information stored on your computer should be secure, organized, and __________ protected.

password

Basic consumer rights include the right to choose, the right to safety, and the right to be __________.

informed

The portion of the purchase price that is not borrowed is called the __________ payment.

down

If you no longer need a physical copy of a financial document, you should __________ it, then dispose of it.

Shred

Product, Price, Place, Promotion & People are components of the __________.

Marketing Mix

The laws and organizations designed to ensure the rights of consumers are known as __________ Protection.

Consumer

Specific groups of people that are most likely to become customers are called the __________ Market.

Target

The Federal Agency that promotes consumer protection and eliminates anticompetitive business practices is the __________ Trade Commission.

Federal

A non-profit corporation that helps consumers find businesses and charities that they can trust is The Better __________ Bureau.

Business

Failing to pay a mortgage loan by the due date demonstrates that the account is in __________.

Default

A legally binding promise between a buyer and a seller is a __________.

Contract

Unsolicited text messages or emails asking for sensitive bank information and Social Security numbers are examples of Consumer __________.

Fraud