Question

Using cash gives you more bargaining power than using credit.
False
True
“The Lucky Sevenʺ rules can get you incredible deals on the stuff you buy every day, but they only work if you:
Visit another country
Use them
Have a lot of money
Are willing to buy the item regardless of the price
Getting the best deal on a purchase involves doing all of the following except:
Shopping around to find the best deal
Negotiating
Having patience
Being first in line for a new product
The Federal Trade Commission found that people who reported having more debt than they could handle were more likely to be victims of consumer fraud involving:
Nonexistent foreign lotteries
Dishonest prize promotions
Credit repair and debt consolidation
Fraudulent work-at-home programs
Type of yard sale with more items, usually the entire contents of a household
Estate sale
Pawn shop
To bargain for a lower price
Negotiate
Window shop
The ability to walk away from a purchase when negotiating
Buyer's advantage
Walk-away power
Making informed choices as a consumer will usually yield savings.
False
True
Which of the following is not recommended when selling something you own?
Make it clear that, as a seller, you have walk-away power.
Get antiques or collectible items appraised and sell them slightly below that price.
Find an uninformed buyer and charge the highest price possible.
Be armed with information so that you can be sure it’s a win-win deal.
When buying things at an auction, it is important that you:
All of the above
Set a limit on the amount you are willing to pay
Don’t get caught up in the excitement and end up paying more than retail price
Familiarize yourself with the item you want to purchase (quality, condition, age, etc.)
Which of the following describes why using cash is a great bargaining tool?
All of the above
Cash has immediacy.
Cash is visual.
Cash is emotional.
Excluding the United States, most countries use negotiating as a way of life.
False
True
Learning to be quiet is actually a powerful tool in negotiation.
False
True
Having to do with a person’s honesty and moral attributes
Impulse
Integrity
Being married (or emotionally attached) to a purchase will cause you to lose bargaining power.
False
True

Answer 1

1. True

2. Use them

3. Being first in line for a new product

4. Credit repair and debt consolidation

5. Estate sale

6. Negotiate

7. Walk-away power

8. True

9. Find an uninformed buyer and charge the highest price possible

10. All of the above

11. All of the above

12. True

13. True

14. Integrity

15. True