FACS - Unit 7 by 0Xds8Yhy


									FACS - Unit 7

Indicate whether the sentence or statement is true or false.

              Read the situation. Then answer each item as directed.
              Juan and a friend went shopping on Saturday.
              Put a T in the space to the left of any of Juan's comments that show him making good consumer decisions.
              Put an F to the left of those that do not.

____       1 "I didn't plan on buying a new sweater today, but this one's my favorite color."
             A True
             B False
____       2 "Here's the tie I like that's been on the clearance rack for a while. Now it's marked down again—to a price I
             can afford."
             A True
             B False
____       3 "I'm not sure I have anything I can wear this shirt with, but I'll buy it and check when I get home."
             A True
             B False
____       4 "Mike said this brand of boots held up real well for him. I think I'll buy them instead of the other ones."
             A True
             B False
____       5 "Let's skip the bookstore here. I know another place that has lower prices."
             A True
             B False

              Read the situation. Then answer each item as directed.
              Vanessa needs a new computer. Her actions are described below.
              Put a T in the space to the left of actions that show smart shopping skills. Put an F next to any that do not.

____       6 Vanessa read a consumer magazine and two computer magazines before going shopping.
             A True
             B False
____       7 She compared several similar computers, checking the labels to see the capabilities of each and what the
             packages contained.
             A True
             B False
____       8 Vanessa skipped going to the computer discount store because it was farther away than the department
             A True
             B False
____       9 She considered buying an expensive computer at a store where she had a credit card.
             A True
             B False
____      10 Vanessa asked about the warranty and store service before buying.
             A True
             B False

Multiple Choice
Identify the letter of the choice that best completes the statement or answers the question.

____      11 The most complete definition of interest is _____.
             A money the bank pays to people who have savings accounts
             B money paid to a bank when people borrow money
             C money paid to a credit company for the privilege of using the company's money
             D money paid by one party to another party for the use of money
____      12 All of the following are examples of fixed expenses EXCEPT _____.
             F rent                                           H car payment
             G entertainment                                  J electric bill
____      13 The first thing to do if you're unhappy with a product is _____.
             A write to the president of the company
             B confront the manager with the problem
             C tell the salesperson or customer service representative what the problem is
             D take the store to small claims court
____      14 Consumers have all of the following responsibilities EXCEPT _____.
             F to learn how to use and take care of the product correctly
             G to ignore pricing errors made at the register
             H to handle merchandise carefully
             J to save receipts, instructions, and guarantees
____      15 The Consumer Bill of Rights includes all of the following EXCEPT _____.
             A the right to safety                            C the right to redress
             B the right to be informed                       D the right to be satisfied


               A   budget                                       H   advertising
               B   consumer                                     I   deposit
               C   expense                                      J   attitude
               D   cancelled check                              K   check
               E   credit card                                  L   apprentice
               F   alternatives                                 M   credit
               G   comparison shopping                          N   check register
____      16   the different choices you can make to deal with a situation
____      17   a written order directing a bank to pay money as instructed from a particular account
____      18   a person who uses goods and services
____      19   a record of deposits to and withdrawals from a checking account
____      20   a message to persuade consumers to purchase a particular product or service
____      21   a card entitling the holder to goods and services which are charged to his account
____    22   a person’s basic outlook on life or a specific topic or issue
____    23   a payment that is a partial amount of the cost of a good or service, or to add money to an account
____    24   someone who receives on-the-job training
____    25   an arrangement that allows consumers to buy goods and services now and pay for them later
____    26   a check that is stamped and perorated to show it has been paid
____    27   an orderly program for spending, saving, and investing the money you earn to achieve desired goals
____    28   comparing products and prices in different stores before making a purchase
____    29   the cost of goods and services

Short Answer

        30 What are the two types of resources we have available to us? What is one example of each?

        31 What are 2 things you can do to more effectively manage the resources you have?

        32 What are 3 places you could get income from?

        33 Name 3 types of places you can shop.

        34 What are 2 services banks offer, other than checking and savings accounts?

        35 In your own words, define “management.”


        36 Tasha is a Minnesota teen who works part-time at a dress store and subscribes to Vogue Magazine. She
           believes that nothing influences what she buys. What are three influences she might be overlooking? How
           would they affect Tasha?
       37 If you bought a hair dryer and were dissatisfied, what steps would you take?


       38 Complete the Management Process by filling in the missing steps:
             1. Define the problem
             2. ________________________
             3. Consider alternatives
             4. ________________________
             5. ________________________
             6. Evaluate the decision
FACS - Unit 7
Answer Section


       1   ANS:   F
       2   ANS:   T
       3   ANS:   F
       4   ANS:   T
       5   ANS:   T
       6   ANS:   T
       7   ANS:   T
       8   ANS:   F
       9   ANS:   F
      10   ANS:   T


      11   ANS:   D
      12   ANS:   G
      13   ANS:   C
      14   ANS:   G
      15   ANS:   D


      16   ANS:   F
      17   ANS:   K
      18   ANS:   B
      19   ANS:   N
      20   ANS:   H
      21   ANS:   E
      22   ANS:   J
      23   ANS:   I
      24   ANS:   L
      25   ANS:   M
      26   ANS:   D
      27   ANS:   A
      28   ANS:   G
      29   ANS:   C


      30 ANS:
         human and material; skills, teachers, time --- money, vehicles, clothing
        31 ANS:
            Make a list of things that need to be done, plan, deal with items that have the highest priority, be
                prepared for each task, look ways to improve, don’t overload yourself, limit your
                commitments by learning how to say no
        32 ANS:
           job, gifts, inheritance, allowance, salary, interest, social security, interest, dividends
        33 ANS:
            Discount Store, Specialty Stores, Department Stores, On-line, Catalog, Outlet mall, Resale shops,
                 Yard sales, Thrift stores
        34 ANS:
            On-line banking, ATM--Automatic Teller Machine, Loans, Certificate of Deposit, Notary, Money
                 Market, Credit Card
        35 ANS:
           process of using available resources to meet goals


        36 ANS:
           Any three: income (hers or her parents); work/job; weather/environment; personal interests and values;
           ads/reading material/fashion; peer pressure/friends. Effects will vary.
        37 ANS:
           Answers should include: check your warranty; state your problem and how you would like it resolved;
           consider further action.


        38 ANS:
           Gather information, evaluate consequences, make the decision

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