Efficient Buying - JSS2 Business studies Past Questions and Answers - page 1
What are wants?
Essential requirements for survival
Desires or preferences for goods and experiences
Universal necessities
What are needs?
Luxurious items
Optional desires
Essential requirements for survival and well-being
What is the primary difference between wants and needs?
Wants are essential, needs are optional
Needs are essential, wants are optional
Both are equally important
What is impulse buying?
Careful and planned purchasing decisions
Spontaneous and unplanned purchases
Purchases made after thorough research
What often drives impulse buying?
Logical reasoningÂ
Emotional impulses and external stimuli
Budget constraints
What are the financial implications of impulse buying?
Overspending and debt accumulationÂ
Saving money
Budgeting effectively
How does impulse buying affect emotional well-being?
Increases happiness
Leads to guilt and regret
Causes contentment
What is a warranty?
A promise to repair or replace a product if it fails to meet certain standards
A guarantee of product satisfaction
A discount on future purchases
What does installation service involve?Â
Marketing products to consumers
Setting up and assembling purchased products
Providing technical support after purchase
What are after-sales services aimed at?
Encouraging impulse buying
Enhancing the customer experience after purchase
Discouraging consumers from returning products
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