Decision Making
This economic influence on decision-making is defined as the cost of borrowing money.
What is interest rate?
When someone uses your information to file a fraudulent tax return, it is known as:
What is tax identity theft?
True or False: Ads placed on social media are more likely to convince consumers to spend more money
What is true?
Name one way people can steal your personal information
What are Scam Phone Calls, Database Hacks, Phishing Scam, and/or Mail?
What are deceptive business practices that cause consumers to suffer financial or other losses because the victims believe they are participating in a legal and valid business transaction when they are actually being defrauded?
What is Consumer Fraud?
This economic influence on decision-making is defined as the number of people without employment who are willing to work
What is unemployment?
How long is an Extended Fraud Alert good for?
What is 7 years?
Which social media platform has the greatest influence on consumer purchasing habits?
What is Instagram?
Name one way you can protect your identity online
What is:
Create a unique password with special characters
Be cautious of personal information you are sharing online
Shop only on secure sites
___ ______ refers to the tangible features of a commodity (a tradeable object) which can satisfy some human requirement, want or need, or which serves a useful purpose.
What is Use Value?
The decision making process consists of 5 steps:
1. Identify the problem or need
2. Gather information and list possible alternatives
3. Consider consequences of each alternative
4. Select the best course of action
5. ???
What is evaluate the results?
What is the government agency that helps you resolve cases of consumer fraud?
What is the Federal Trade Commission?
What type of influencer uses their credibility and large platform to show how they use their product in order to market it?
What is a Social Media Influencer?
What does EMV stand for?
What is Europay, Mastercard, and Visa?
_______ is the total satisfaction received from consuming a good or service
What is Utility?
Name three factors that can influence your decisions from the list of seven we talked about in class
What are Values, Peers, Habits, Age, Feelings, Family, Risks and Consequences?
This alert allows you to restrict access to your credit report and does not affect your credit score; it is NOT a fraud alert!
What is a Credit Freeze?
Brands are drifting away from ______ and ______ for advertisements and leaning on influencers to help advertise their products because they are more relatable.
What are celebrities and supermodels?
Name one sign that someone is using your information that we went over in class:
What are:
Credit card charges you didn’t make
Bills for medical services you did not use
Debt collectors calling about debts that are not yours
What are two of the seven most common types of consumer fraud that we went over in class?
What is Identity Theft, Mortgage Fraud, Credit/Debit Fraud, Deceptive Interest Rate Reduction Robocalls, Fake Charities, Prize & Lottery Fraud, and Debt Collection Fraud?
Name three of the nine common decision-making strategies that we discussed in class
What are Spontaneity, Compliance, Procrastination, Agonizing, Intention, Desire, Avoidance, Security, Synthesis?
What are the 3 main credit reporting companies? (Must name all 3)
What are Equifax, TransUnion, and Experian?
What term means getting someone to do or buy something because others are also doing it?
What is Bandwagon Appeal?
What are the two long term negative effects of identity theft? (Must name two)
What is extremely time consuming and poor credit score?
______ ___ ______ examines why goods that are not essential to life can command a much higher price than goods that are essential to life
What is Paradox of Value?