Finance Flashcards

Dave Ramsey Foundations in Personal Finance – Chapter 6 Money in Review

Opportunity Cost Refers to the financial opportunity that is given up because you choose to do something else with your money
Significant Purchase An amount of money you spend, usually $300, that causes some pain to part with
Branding The promotion of a product or service by identifying it with distinct characteristics (usually associated with public perception, quality or effectiveness)
Buyer’s Remorse Feeling regret or concern after making a large purchase
Financing To buy an item with credit; paying over time
Caveat Emptor Latin term for “buyer beware”
Marketing The process of communicating the value of a product or service to customers
Brand Recognition Refers to the public’s ability to recall and recognize a brand by its logo, jingles, packaging, etc.
True As a consumer, you should consider inflation in your investment and retirement planning.
False If you don’t have cash on hand, financing a significant purchase is a good option.
Eating out Which of the following is not a need?
All of the above The purpose of advertising is to:
Making the customer do product research Which of the following is not a common marketing strategy?

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