Personal Finance Section 11 Study Questions

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Section 11 Study Questions (6.0 points) Answer each question fully. Complete sentences are not necessary. Lesson 1 (3.0 points) 1. What is an “I” statement? (0.5 points) An "I" statement includes information about what happened, how it made you feel, and why it made you feel that way. 2. What is aggression? (0.5 points) Aggression is behavior that is intended to harm or cause pain to others. 3. What is stress? (0.5 points) Stress is the mental pressure placed on a person by factors in the world around them. 4. What is a standard of living? (0.5 points) A standard of living is how easy it is for people in a society to provide for their needs and wants, and the needs and wants of their family. 5. What is perception? (0.5 points) Perception is the process of selecting, organizing, and interpreting information in order to determine its meaning. 6. What is self awareness? (0.5 points) Self awareness is the knowledge of who you are as an individual. Lesson 2 (3.0 points) 1. What are consumer motives? (0.5 points) Consumer motives are the reasons why people make specific choices in spending their money. 2. What is a specialty good? (0.5 points) Specialty goods are items that the consumer considers special and luxurious. The consumer is willing to seek out this unique product and probably pay more for it. 3. What is advertising? (0.5 points) Advertising is when a company pays for messages that are meant to get consumers to notice and want its products. 4. What is a warranty? (0.5 points) A warranty is a specific promise about product performance that is written down in formal documentation and is usually limited to a specific time frame, so it can expire. 5. What are unsought goods? (0.5 points) Unsought goods are things that people sometimes need but don't usually think about buying. 6.

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