Choose wisely. There is only one correct answer to each question.
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1.
What is perhaps the best way to decide if a purchase is a major one?
The best way to decide if a purchase is major is by considering either how long the product will be of value and/or how much the product costs, and/or if it is already part of your budget. Family budgets can often be compared to those of small businesses.
2.
If you have destroyed your credit in the past, you should _______ making a major purchase on credit again.
Sometimes consider. Provided that you pay it back according to the terms of the credit card, you can use a major purchase as a way to reestablish credit.
3.
Which of the following are conditions for determining whether a purchase is a major one?
All of the above. People use any or all of these to determine whether something they want to buy qualifies as a major purchase.
4.
A luxury item is typically a _______.
Want. Luxury items are typically not necessities and are therefore wants.
5.
Which of the following are advantages of buying used rather than new?
All of the above. There are even more advantages than these; for example, you might still get some kind of a warranty.