Purchasing
What is power over purchase?
Having the ability to slow down and think about the importance of a purchase.
A coupon is an example of a
Promotion
Why is paying for something in cash better than virtual payments?
It makes spending more difficult.
Roth IRA's and 401K's are examples of what?
Retirement accounts.
What are consumers charged whenever we borrow money?
Interest
Americans overspend $2,100 a year buying products without thinking. This is called what?
Impulse Purchasing
Why is brand recognition important for businesses?
It helps consumers remember their logo. This also builds trust in a companies that we recognize.
What is contemptment.
Being happy with what you have.
$500
How can we avoid interest when we use a credit card.
Pay your bill in full
Why do stores like scan & go, apps, and one click purchases?
It makes paying easier and faster. We are more likely to overspend.
How do companies use digital marketing track users on the internet?
By Retargeting consumers.
Stealing someones credit or debit card and using it is an example of?
fraud
What index fund tracks the top 500 companies in the US?
S & P 500
Who is the central bank of the United States
What is a an effective marketing strategy? Think of walmart...
Strategically place products in a store
What are the 4 P's of marketing?
Product, Price, Place, Promotion.
If I buy something just because everyone else is it is called?
Herd Mentality
The initial amount of a loan or an investment is called what?
Why is investing early better than waiting? (Be specific and use terms we have discussed)
Because it has more time for compound interest to grow your investments.
What does it mean to have a herd mentality?
How can consumers limit impulse purchases?
By delaying purchases and checking the reviews. Also by sticking to their budget.
Careers in what field are paying the most when coming out of college?
STEM
What is the advantage of going to a trade school like Haney vs. a 4 year college.
It's cheaper and takes less time.
List at least 3 examples of fixed expenses.
Mortgage, Rent, Subscriptions.