61 wise spending is associated with all of the following practices except a buying u 4351669

61.Wise spending is associated with all of the following practices EXCEPT:

a.buying used instead of new items.

b.studying seasonal price fluctuations.

c.selecting off-brand labels.

d.purchasing items when they're on sale.

62.The key to making a budget work for you is to review your figures every:



c.six months.


63.In a general budget, the savings category is located under the ____ heading.

a.flexible expenditures

b.undirected spending

c.hidden expense

d.fixed payment

64.When John responded to a newspaper ad for a $350 washing machine, the salesperson indicated that they had sold out and proceeded to guide him to a much more expensive machine. This is an example of:

a.low balling.

b.bait and switch.

c.hard selling.

d.false advertisement.

65.The low ball technique is often used in:


b.the stock market.

c.car sales.

d.real estate.

66.A married couple wanted to buy a mobile home. They were ready to sign a contract after the sales representative offered them a sizeable discount on the model they had selected. The General Manager of the dealership then voided the offer and informed them that they would have to pay an additional two thousand dollars to purchase the home they had fallen in love with. This is an example of:

a.bait and switch.

b.low balling.

c.the hard sell.

d.high balling.

67.Edith saw a product on television she wanted. The commercial told her to call a number and that the offer was only good today. Edith called to purchase the product. Edith was victim to which of the following consumer traps?


b.bait and switch tactics

c.high balling

d.hard sell

68.A salesperson who says that you must buy a sale item today because the price is going up tomorrow is practicing:

a.low balling.

b.bait and switch.

c.the hard sell.

d.high balling.

69.When Sabrina went to trade in her old car as a down payment on a new one, the salesperson offered her a lot of money for her vehicle. When she was ready to agree to the trade-in terms, the manager informed her that he could let her have the new car, but he could not give her as much for her trade-in as the salesperson had promised. This is an example of:

a.high balling.

b.bait and switch.

c.low balling.

d.the hard sell.

70.Tom has bad credit and would like to fix it. He sees an advertisement from a company that can fix his credit problems. He calls and pays them a large fee to erase his credit history. The company cannot erase his history. Tom has been taken by a ___________ scam.


b.hard sell

c.credit repair


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