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What are the three (3) main questions, a consumer must consider before deciding to pay for the items?
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Question 21:
Two causes of consumer items (factors influencing consumer demand):
A. Income levels: Higher disposable income generally leads to increased demand for various consumer items.
B. Advertising and marketing: Effective campaigns can create awareness, desire, and perceived need for products, driving consumer purchases.
Question 22:
A savings plan is a structured approach to setting aside money regularly over time to achieve specific financial goals, such as buying a house, retirement, or an emergency fund.
Question 23:
Three main questions a consumer must consider before deciding to pay for items:
A. Do I need this item, or do I just want it? (Assessing necessity vs. desire)
B. Can I afford this item without compromising other essential needs or financial goals? (Assessing affordability and budget impact)
C. Is this item worth the price, and are there better alternatives available? (Assessing value for money and opportunity cost)
Question 24:
According to the arrows indicated A and B on the cheque:
A. The arrow points to the cheque number.
B. The arrow points to the signature line.
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