Question

Joe tries to bargain at an electronics store but is unable to negotiate the price down. What should be his next step?
All of the above
Shut up
Ask about 90-days-same-as-cash
Walk away
Which of the following is typically not a good place to find a deal?
Individuals
Consignment shops
Mall
Online auctions
Process by which the holder of a mortgage sells the property of a homeowner who has not made interest and/or principal payments on time as stipulated in the mortgage contract
Refund
Foreclosure
The good guy, bad guy technique is a negotiating tool that you should be aware of.
False
True
Which of the following is true about the ʺIf Iʺ take-away technique?
This technique is meant to take advantage of the other person in the negotiation.
This technique should only be used when the ʺgood guy, bad guyʺ technique is used on you.
This technique involves negotiating the lowest price possible, then throwing something else into the deal.
Use this technique prior to negotiating price.
Which of the following statements is false?
Being a wise consumer involves developing a variety of skills, from product research to careful comparative analysis.
In addition to economic savings, wise consumers also enjoy improved health and have a positive impact on the larger social and even global environment.
Your choices as a consumer have no impact on the larger social environment.
Using a cost-benefit analysis approach to your buying decisions will make you a wise consumer.
A public sale in which property or items of merchandise are sold to the highest bidder
Auction
Thrift store
The difference between the wholesale price and retail price
Markup
Margin
The process of quantifying costs and benefits of a decision
Purchase plan
Cost-benefit analysis
Store return policies must balance customer service and profits. As a consumer, to ensure the best possible store return process, you should:
All of the above
Return the item to the store as quickly as possible
Hold on to your receipt and keep the labels and price tags on the item
Familiarize yourself with the store’s return policy prior to your purchase
Most of the items at a pawnshop are stolen.
False
True
Retail store where people sell items and the owner of the shop gets a percentage of the sale
Convenience store
Consignment shop
If you’re trying to buy something, it’s not your job to come up with a good price. Make the seller work for your business.
False
True
Which of the following is not recommended if you are trying to make your money go further?
Comparison shopping
Buying only name-brand products
Negotiating for a lower price
Buying clothing at end-of-the-season sales
Shopping for bargains is part of a healthy financial plan because it makes your hard -earned money go further.
False
True
The exchange of goods or services without the use of money
Barter
Bargain
In certain circumstances, it is okay to stretch the truth to get a bargain.
True
False
Which of the following statements is false?
Just asking for a great deal doesn’t always mean that you’ll get one.
If negotiation is done correctly, it will end up being a win -win deal.
A great deal often just happens by accident.
Negotiation involves a conversation of back-and-forth, give-and-take.

Answer 1

1) All of the above

2) Mall

3) Foreclosure

4) True

5) This technique involves negotiating the lowest price possible, then throwing something else into the deal.

6) Your choices as a consumer have no impact on the larger social environment. (false)

7) Auction

8) Markup

9) Cost-benefit analysis

10) All of the above

11) False

12) Consignment shop

13) True

14) Buying only name-brand products

15) True

16) Barter

17) False

18) A great deal often just happens by accident. (false)