Needs, Wants and Aspirations

Question 1 of 20

1

Which one of these statements is viewed as a aspiration?

Select one of the following:

Meal in a restaurant with your family.
Having set of basic clothing.
Buying a car in few years time.
Buying decorations for your house.

Explanation

Question 2 of 20

1

What is seen as a need?

Select one of the following:

Water.
Going out with friends every weekend.
Having a computer.
Having a Wi-Fi.

Explanation

Question 3 of 20

1

What doesn't change over a person's life cycle?

Select one of the following:

Needs
Wants
Aspirations
Values

Explanation

Question 4 of 20

1

How do you call things that are considered to be important?

Select one of the following:

Needs
Wants
Aspirations
Values

Explanation

Question 5 of 20

1

Sam is 25. Sam has aspiration of going to university. How he is going to satisfy this aspiration?

Select one of the following:

He will ask his friends to lend him some money.
He will do nothing and give up on aspiration.
He will open savings account and save money in medium-term.
He will insure his car.

Explanation

Question 6 of 20

1

What is a mortgage?

Select one of the following:

Short-term borrowing
Medium-term saving
Medium-term borrowing
Long-term borrowing

Explanation

Question 7 of 20

1

Is the following statement is TRUE?
Investments, pensions and insurance are products that satisfy peoples medium and long term wants and aspirations.

Select one of the following:

True
False

Explanation

Question 8 of 20

1

Is the following statement TRUE?
Taking a mortgage is a want.

Select one of the following:

True
False

Explanation

Question 9 of 20

1

Which of these sets of factors are only internal?

Select one of the following:

Values, Beliefs,Attitudes,Perceptions,Marketing
Peer pressure, Trends and Role models, Values, Beliefs
Preferences,Perceptions, Beliefs, Values, Attitudes
Culture, Promotion, Public relations, Product placement and sponsorship, Marketing

Explanation

Question 10 of 20

1

Values help people to distinguish between what they consider to be needs and what they consider to be wants, and to from their aspirations.
What is another function of the values?

Select one of the following:

They help people to plan their finances and to decide between different alternatives.
They influence the way people see financial services and the firms that provide them.
Refer to how , at a given time and place, people think and feel about another person, an event or an issue.
Affect the way they feel about the products with which they are surrounded.

Explanation

Question 11 of 20

1

What is the example for a belief?

Select one of the following:

A person might believe that banks will crash and this would make them wary of saving their money in a bank account.
A person might believe that it's important to plan for a future.
A person is interested in planning for a future.
Using on-line banking services because they are more convenient.

Explanation

Question 12 of 20

1

Who would have a positive attitude towards saving for the old age?

Select one of the following:

Children
Teenagers
Young adults
Old people

Explanation

Question 13 of 20

1

Attitude to risk can be as positive as negative. People with positive attitude to risk are known as risk tolerant. Is it true?

Select one of the following:

True
False

Explanation

Question 14 of 20

1

Is marketing an internal factor?

Select one of the following:

True
False

Explanation

Question 15 of 20

1

How does marketing influence people?

Select one of the following:

If a person needs to decide on a financial product and he saw a good review on it in a newspaper, they are more likely to take this financial product.
If a person heard a positive recommendation from his friend on a certain product, that person will be more tolerant towards that product.
If a product is advertised by a celebrity, it's more likely that a person will decide on that product.
If it's morally wrong to buy a particular product, a person will not buy it.

Explanation

Question 16 of 20

1

What is TRUE about advertising?

Select one of the following:

It's used to inform and persuade.
It's known as 'below the line' expenditure.
It's entire message is to implicit.
It involves a product appearing on a TV show or in a film.

Explanation

Question 17 of 20

1

What is usually found in the 'small print' ?

Select one of the following:

Terms and conditions that determine the amount of interest received on a savings account and the amount of interest and fees charged on the loan.
Information about the provider.
Warnings about how peer pressure can influence your decision.
Date when the financial product will not be available.

Explanation

Question 18 of 20

1

What is 'below the line' expenditure?

Select one of the following:

Part of the promotion that is not paid for directly but which keeps a business's product in the public eye.
Promotion of a product that is considered to be very cheap.
Promotion of a product that is paid directly in order to keep business's product in the public eye.
Part of the promotion that is very expensive but very effective to the business.

Explanation

Question 19 of 20

1

Is that true that PR activities cost money, but they contribute to the general reputation of a business and are not directly related to the brands that the business sells?

Select one of the following:

True
False

Explanation

Question 20 of 20

1

Is it important to set priorities to your wants and aspirations in order to afford most of them?(true=important, false= not important)

Select one of the following:

True
False

	Created by Jevgenija Zukova about 8 years ago

Quiz on topic 1 in Unit 2 of CeFS It has explanations on the right and wrong answers!

Needs, Wants and Aspirations

Question 1 of 20

Which one of these statements is viewed as a aspiration?

Select one of the following:

Explanation

Question 2 of 20

What is seen as a need?

Select one of the following:

Explanation

Question 3 of 20

What doesn't change over a person's life cycle?

Select one of the following:

Explanation

Question 4 of 20

How do you call things that are considered to be important?

Select one of the following:

Explanation

Question 5 of 20

Sam is 25. Sam has aspiration of going to university. How he is going to satisfy this aspiration?

Select one of the following:

Explanation

Question 6 of 20

What is a mortgage?

Select one of the following:

Explanation

Question 7 of 20

Is the following statement is TRUE? Investments, pensions and insurance are products that satisfy peoples medium and long term wants and aspirations.

Select one of the following:

Explanation

Question 8 of 20

Is the following statement TRUE? Taking a mortgage is a want.

Select one of the following:

Explanation

Question 9 of 20

Which of these sets of factors are only internal?

Select one of the following:

Explanation

Question 10 of 20

Values help people to distinguish between what they consider to be needs and what they consider to be wants, and to from their aspirations. What is another function of the values?

Select one of the following:

Explanation

Question 11 of 20

What is the example for a belief?

Select one of the following:

Explanation

Question 12 of 20

Who would have a positive attitude towards saving for the old age?

Select one of the following:

Explanation

Question 13 of 20

Attitude to risk can be as positive as negative. People with positive attitude to risk are known as risk tolerant. Is it true?

Select one of the following:

Explanation

Question 14 of 20

Is marketing an internal factor?

Select one of the following:

Explanation

Question 15 of 20

How does marketing influence people?

Select one of the following:

Explanation

Question 16 of 20

What is TRUE about advertising?

Select one of the following:

Explanation

Question 17 of 20

What is usually found in the 'small print' ?

Select one of the following:

Explanation

Question 18 of 20

What is 'below the line' expenditure?

Select one of the following:

Explanation

Question 19 of 20

Is that true that PR activities cost money, but they contribute to the general reputation of a business and are not directly related to the brands that the business sells?

Select one of the following:

Explanation

Question 20 of 20

Is it important to set priorities to your wants and aspirations in order to afford most of them?(true=important, false= not important)

Is the following statement is TRUE?
Investments, pensions and insurance are products that satisfy peoples medium and long term wants and aspirations.

Is the following statement TRUE?
Taking a mortgage is a want.

Values help people to distinguish between what they consider to be needs and what they consider to be wants, and to from their aspirations.
What is another function of the values?