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Test 1 - Review Game

Test 1 - Review Game. Chapter 1 - Consumers. Question 1. The _________________ says that consumers will demand more of a product at a lower price than at a higher price. a. law of scarcity b. law of demand c. law of supply d. law of surplus. Answer. law of demand. Bonus Question.

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Test 1 - Review Game

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  1. Test 1 - Review Game Chapter 1 - Consumers

  2. Question 1 The _________________ says that consumers will demand more of a product at a lower price than at a higher price. a. law of scarcity b. law of demand c. law of supply d. law of surplus

  3. Answer law of demand

  4. Bonus Question Which of these goodies at a Mexican restaurant is also the name of a dance? Chimichanga Quesadilla Salsa Answer Salsa

  5. Question 2 Now that Denise has her first job, she needs to purchase a few new items for her wardrobe. Before going to the mall, Denise identifies the types of clothes she will need and the amount she can afford to spend. She then plans specific steps to gather information about the clothing that she wants. Denise's process could best be described as ____. a. impulse buying b. comparative shopping c. rational buying d. none of the above

  6. Answer rational buying

  7. Bonus Question Where can you most likely spot a camel pose and a cow stretch? At a zoo In yoga class On Dancing with the Stars Answer In yoga class

  8. Question 3 The advertising that provides information that helps you make a good buying decision is called ____. a. persuasive advertising b. informative advertising c. defensive advertising d. comparative advertising

  9. Answer informative advertising

  10. Bonus Question How many Zodiac symbols do NOT have a tail? 3 4 6 Answer 6

  11. Question 4 Danielle wants to earn her living helping people and her community, so she decides to pursue a career as a sociologist. Her "want" in this particular case could be classified as her ____. a. work value b. value c. goal d. social value

  12. Answer work value

  13. Bonus Question What are the two top color panes in the Windows Logo? Red and Green Blue and Red Yellow and Green Answer Red and Green

  14. Question 5 To pay for the cost of advertising, businesses may have to _____________ the price of the product. a. not change b. increase c. none of the above d. decrease

  15. Answer increase

  16. Bonus Question What vertically-challenged dude is the spokescharacter for Travelocity.com? A dwarf A gnome Martin Short Answer A gnome

  17. Question 6 Advertising that is designed to appeal to your emotions to influence you to buy is called ____. a. comparative advertising b. persuasive advertising c. defensive advertising d. none of the above

  18. Answer persuasive advertising

  19. Bonus Question What is the code name for the REAL head of the British Secret Service? C X Z Answer C

  20. Question 7 Elisa types 90+ words a minute with less than two mistakes! With her ability she has decided that she will start her own in-home secretarial service. She decides to charge her clients $8 a page. Her cost to produce a typewritten page is $4 (cost of paper, ink cartridge, etc.). If she takes the $8 per page price and subtracts $4 per page cost, what will she determine? a. profit b. opportunity cost c. resources d. demand

  21. Answer profit

  22. Bonus Question Who’s the “Grey” in the TV blockbuster Grey’s Anatomy? Miranda Meredith Addison Answer Meredith

  23. Question 8 The trade-off when you make a choice is called a. opportunity cost b. a financial goal c. opportunity lost d. cost of choice

  24. Answer opportunity cost

  25. Bonus Question What Italian family lives at 633 Stag Trail Road, New Caldwell, New Jersey? The Corleones The Sopranos The Boyardees Answer The Sopranos

  26. Question 9 An economy in which the government tells you what to produce is a description of a ____. a. command economy b. market economy c. mixed economy d. traditional economy

  27. Answer command economy

  28. Bonus Question If someone asked you for a “biro” in London, what would you give them? A soda A ballpoint pen A knuckle sandwich Answer A ballpoint pen

  29. Question 10 Every country must deal with the situation in which consumers' wants are greater than the resources available to satisfy those wants. This situation is known as ____. a. scarcity b. production c. law of demand d. none of the above

  30. Answer scarcity

  31. Bonus Question What Disney star would do the best impersonation of the AFLAC spokescharacter? Mickey Mouse Donald Duck Goofy Answer Donald Duck

  32. Question 11 One day while at the mall shopping with some friends, without thinking you decide to buy a pair of platform shoes. This purchase is an example of a(n) ____. a. impulse purchase b. rational buying decision c. need d. buyer's remorse

  33. Answer impulse purchase

  34. Bonus Question What celeb sported prison # 55170-054 in 2004? Martha Stewart Lil’ Kim Adam Sandler in the Longest Yard Answer Martha Stewart

  35. Question 12 Which of the following factors can influence decisions? a. family b. peers c. age d. values e. all of the above

  36. Answer all of the above

  37. Bonus Question Who’s T-shirt slogan “Underachiever & Proud of it” was banned from U.S. schools? Cosmo Kramer’s Bart Simpson’s Ozzy Osbourne’s Answer Bart Simpson’s

  38. Question 13 Advertising that tries to win your favor by comparing its product's qualities to those of a competing product is called ____. a. persuasive advertising b. comparative advertising c. brand advertising d. informative advertising

  39. Answer comparative advertising

  40. Bonus Question What does a Fujita scale measure? The weight of a Sumo wrestler The height of Mt. Fugi The strength of a tornado Answer The strength of a tornado

  41. Question 14 A value can be described as • a willingness to give up something now in exchange for future benefit b. something you desire to make your life more comfortable c. a belief or idea you consider important or desirable. d. something basic for your survival

  42. Answer a belief or idea you consider important or desirable.

  43. Bonus Question What did Ebenezer Scrooge REALLY say in Charles Dickens’ A Christmas Story? Bah, Humbug! Bah, Christmas! Christmas, Fuhgetaboutit! Answer Bag, Christmas!

  44. Question 15 Gabe is a high school senior and has decided that he must begin to make some decisions about his own future. He makes a list of the things he hopes to accomplish in the next five years that include attending a technical school to learn welding, purchasing a used car, and saving money. These things he hopes to accomplish are considered his ____. a. goals b. values c. needs d. wants

  45. Answer goals

  46. Bonus Question How many knights could sit comfortably at King Arthur’s Round Table? 25 75 150 Answer 150

  47. Question 16 A purchase made on a whim without using a decision-making process is a(n) ____. a. option purchase b. impulse purchase c. trade-off purchase d. none of the above

  48. Answer impulse purchase

  49. Bonus Question What sporting event is called “The Greatest Spectacle in Racing”? The Indy 500 The Kentucky Derby The Boston Marathon Answer The Indy 500

  50. Question 17 One night while watching television, you see an advertisement explaining the technical aspects of operating a particular type of kitchen appliance. You now feel more comfortable about using the product and decide to purchase it. This type of advertising is known as ____. a. comparative b. brand c. informative d. persuasive

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