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1.
When considering major purchases, its always best to buy new products.
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False. Very often one can afford more bells and whistles by considering used products.
2.
A luxury item is typically a _______.
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Want. Luxury items are typically not necessities and are therefore wants.
3.
Which answer is most correct regarding the use of credit when making a major purchase?
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B and C. All efforts should be made to avoid using credit cards, but there are occasions when they can and should be used.
4.
One advantage of buying a major purchase used instead of new is that you dont need to wait until youve saved up the money for the new one.
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True. Not only can you have it now and save money, but with some items you can get some kind of warranty.
5.
The definition of "large purchase" is standard and accepted by everyone.
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False. The definition varies according to people, families, and businesses, often by their economic conditions.