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Consumers purchase goods and services
to satisfy their basic needs and wants
to keep up with social trends
because businesses use marketing to make them
to keep the economy afloat
Consumer decision-making refers to the ways individuals make choices about which products they will purchase to satisfy their needs and wants. The process differs depending on whether the purchase is minor or major. Which of the following is an example of a major decision?
a pair of shoes
a new home
the latest game
For a major purchasing decisions, consumers need to: (which one is incorrect)
Identify needs and wants
Collect information about products options
Evaluate the product alternatives against a set of criteria
Make purchasing decisions that consider the short- and long-term financial consequences
Buy the first product you see because you like it
Which of the following is not a factor that affects decision making?
Personal factors that influence consumer purchasing decisions include ( more then one answer)
FINANCING DECISIONS RELATE TO THE
ACQUISITION OF CAPITAL
What is required for carrying out business activites?
Financial Planning helps in...
Managing Human Resources
Forecasting Business Situations
All of the above
Our financial decisions decrease once we reach adulthood.
As we age, the number and complexity of the financial decisions that we make increases.
There are two the means for achieving financial goals--you either need to increase your savings or reduce your spending.
Personal financial planning is the process of creating and achieving financial goals.