ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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each dealer sells cars with different colors.
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lenders want to be sure consumers get the best price.
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the price for the car can vary a great deal.
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it is a requirement to qualify for car insurance.
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Detailed explanation-1: -What is the purpose of comparison shopping? Comparison shopping is when consumers compare the price of products or services between different providers and retailers before making a purchase. This enables customers to shop around for what they perceive to be the best deal.
Detailed explanation-2: -These factors can be garnered through comparison, arming your potential customer with the knowledge they need to get the best value for their money. In short, the power of comparison can make or break a sale for your brand, and even loyal customers might be tempted to shop elsewhere if you don’t stay competitive.
Detailed explanation-3: -50% Rule. The price of a vehicle must be less than fifty percent of one’s annual salary. If your annual income is 15 lacs, you can afford an automobile worth 7.5 lacs. If you desire to purchase a Mercedes-Benz costing 72 lacs, you are certainly exceeding your financial means.
Detailed explanation-4: -Remember the thumb rule: Always remember the thumb rule of not spending more than half of your annual income on a new car. For instance, if an individual earns Rs 10 lakh per annum, the ideal budget for the vehicle would be Rs. 5 lakhs.