Topic 1

Question 1

Joe would love to travel to china . What is this an example of ?

Answer 1

An aspiration

Question 2

An example of a ‘want’ for a toddler opposed to a need is ?

Answer 2

attention

Question 3

wants are :

Answer 3

nice to have

Question 4

True or false : needs do not change over the life cycle

Answer 4

false

Question 5

External factors that can influence the things that you want include

Answer 5

advertising

Question 6

promotion is marketing that is :

Answer 6

payed for

Question 7

celebs are made to make adverts because :

Answer 7

Other people want to be like them

Question 8

True or false : values are more specific than beliefs

Answer 8

False

Question 9

Pr is that part of marketing that is :

Answer 9

implicit

Question 10

Who are peers ?

Answer 10

people who are like us in many respects

Question 11

Is home ownership the culture in all countries?

Answer 11

No

Question 12

An example of an expectation led event would be if people expected share prices to fall:

Answer 12

they are likley to fall

Question 13

What is sorting your money on what is most important called ?

Answer 13

prioritising

Question 14

Capital

Answer 14

the money or assets owned by an individual or a business

Question 15

consumer credit

Answer 15

term used for borrowing

Question 16

culture

Answer 16

society’s set set norms and behaviours across social groups

Question 17

Distribution channel

Answer 17

The way information is transferred to its intended recipient

Question 18

Ethical investing

Answer 18

when someone chooses to save in a way that means the money will be used for what they believe is a good cause

Question 19

Hire purchase

Answer 19

a type of secured consumer credit to finance items such as cars

Question 20

investments

Answer 20

money paid into financial products in aim that the value of the product will grow over time

Question 21

life assurance

Answer 21

a type of insurance policy that pays out a sum of money if the insured person died

Question 22

Marketing

Answer 22

advertising , selling and delivering products to customers

Question 23

secured loan

Answer 23

a loan secured again an asset such as a house