PRIMAVERA ECONOMICS UNIT 1 QUESTIONS AND CORRECT ANSWERS
1 view 0 purchase
Course
PRIMAVERA ECONOMICS UNIT 1
Institution
PRIMAVERA ECONOMICS UNIT 1
PRIMAVERA ECONOMICS UNIT 1
How do you benefit from understanding personal finance? (Select all that apply.) - Answer- Making quality choices about money by creating and managing a budget, Comprehending the difference between debit and credit cards.
What is the meaning of the word 'economics'...
PRIMAVERA ECONOMICS UNIT 1
How do you benefit from understanding personal finance? (Select all that apply.) -
Answer- Making quality choices about money by creating and managing a budget,
Comprehending the difference between debit and credit cards.
What is the meaning of the word 'economics'? - Answer- Laws for the home
Read the scenario. George is 22 years old, single, and has just started his first job.
He saves 5 percent of his monthly income for retirement. Kirsten is 30 years old and
married with two children. She will start saving 6 percent of her income for retirement
when she turns 35. Which person will have more money at age 65 if all other factors
are the same? - Answer- George will because he is younger and saving for a longer
period.
Which are offered by joining the military after high school? (Select all that apply.) -
Answer- Receive tuition assistance after serving a certain number of years, Receive
training while earning a salary.
Which accurately describes a push marketing tactic to help manufacturers sell more
products? - Answer- A manufacturer offers department stores incentives for selling
its product.
What are the four Ps of marketing (also known as the marketing mix)? - Answer-
Product, price, promotion, and place
Comparative advertising includes which of the following criteria? (Select all that
apply.) - Answer- Additional features, Better price, Increased quantity.
Which best explains product advertising features? - Answer- Advertising that focuses
exclusively on the benefits of the product
Which is the best example of direct vendor advertising? - Answer- A commercial
during the Super Bowl for Starbucks coffee.
Why is cooperative advertising the most common form of advertising used by
wholesalers and manufacturers who jointly advertise a product? (Select all that
apply.) - Answer- Large quantities can be held in stock, It allows for sales at a
discounted price.
On average, who earns the highest salaries? - Answer- People with a professional
degree.
When should you start planning for retirement? - Answer- You should start planning
as soon as you decide on a career path.
, Why is it important to use multiple methods of both broadcast and online media
advertising? - Answer- Using multiple methods allows for wider exposure to
advertise the product or service.
Which are part of the marketing mix? (Select all that apply.) - Answer- Know what
people will pay, Have multiple locations, Have the proper packaging.
Read the scenario. Alfonso is 19 years old and has a high school diploma. Recently,
he was promoted to assistant manager at the fast-food restaurant where he has
worked since the age of sixteen. His dream is to become the restaurant's manager.
What is his best option for achieving his dream? - Answer- He should attend classes
at the local college to receive training in management.
Which items make up the marketing mix? - Answer- Place, price, promotion, product.
Where would you find the most useful information about post-secondary education
and training? (Select all that apply.) - Answer- Military and school websites,
Department of Education.
Which is the best reason for why companies use product advertising features? -
Answer- To focus on a specific benefit.
Read the sentence. When setting financial goals, it is important to set SMART goals.
What does the acronym SMART stand for? - Answer- Specific, Measurable,
Attainable, Relevant, Timely.
Which is an example of a SMART financial goal? - Answer- I want to save $25 per
week by packing my own lunch in order to pay off $100 in credit card debt in the next
30 days.
How do individuals benefit from creating a budget? (Select all that apply.) - Answer-
It helps them devise a plan to save money, It helps them identify their expenses, It
helps them identify their income.
Read the scenario. Sally needs to pay her bills this month. Her bills include rent,
utilities, groceries, concert tickets, airfare, care insurance, a car rental, and a trip to
an urgent care facility. What are Sally's fixed expenses? - Answer- Rent and car
insurance.
Which best defines "disposable income"? - Answer- Income available after taxes and
other mandatory expenses.
What is a budget? - Answer- A plan for spending your money to meet your wants
and needs.
What will happen if you avoid a review of your monthly budget? - Answer- You will
have no record to keep track of where your money is going.
Which are considered fixed expenses? - Answer- Rent, cable TV, and car insurance.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Freshy. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $15.99. You're not tied to anything after your purchase.
