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Details

PF 5.01 Vocabulary
PF 5.01 Vocabulary
33
Business
10th Grade
10/29/2013

Additional Business Flashcards

 


 

Cards

Term
Good

Definition
physical object that is purchased

 

Term
service

Definition
action that is performed for someone's benefit

 

Term
retailer

Definition
one who sells goods and or services directly to consumers

 

Term
marketplace

Definition
any place where goods and services are available to the general public

 

Term
merchandise

Definition
a product or physical item purchased

 

Term
consumable product

Definition
product that typically provides a single use or period of use and is destroyed or dissapears as the consumer enjoys the product

 

Term
durable product

Definition
product that lasts for a long period of time and continues to be available to the consumer for more than a single use

 

Term
warranty

Definition
guarantee that a product is in good working order and will give good service for a reasonable amount of time.

 

Term
full warranty

Definition
warranty with no specific limitations

 

Term
limited warranty

Definition
states specifically what limitations are

 

Term
consumer advocate

Definition
person or organization that works on behalf of consumers.

 

Term
consumer action panel

Definition
group formed by a trade association to address consumer complaints

 

Term
government agency

Definition
An organization that operates as part of the state or federal government

 

Term
merchant services

Definition
Any helps provided to consumers by companies/stores/businesses

 

Term
consumer affairs department

Definition
A department of a business that communicates with customers about their rights and needs as consumers

 

Term
Better Business Bureau (BBB)

Definition
A nonprofit organization sponsored by private businesses that attempts to settle consumer complaints against local businesses

 

Term
CR: right to be safe

Definition
Being entitled to protection against potentially harmful goods and services

 

Term
CR: right to be informed

Definition
Being entitled to information about a seller’s reputation, product and service performance, quality, and price

 

Term
CR: right to choose products and services

Definition
Having the opportunity to select goods, services, and places to shop

 

Term
CR: competition

Definition
A situation in which the same or similar goods and services are offered by more than one seller.

 

Term
CR: right to be heard

Definition
Having opportunities to make known likes, dislikes, and problems with products and services

 

Term
CR: right to redress

Definition
Being entitled to a fair and quick remedy to a wrong or loss

 

Term
CR: right to consumer education

Definition
Being entitled to training to gain knowledge and skills as consumers

 

Term
CR: right to service

Definition
Being entitled to convenience, courtesy, and responsiveness

 

Term
CR: right to a healthy environment

Definition
Being able to live in a safe, non-threatening environment

 

Term
RES: to use products safely

Definition
Read and follow manufacturers’ directions for using a product

 

Term
RES: to find and use information

Definition
Find materials to compare sellers and products/services to be purchased

 

Term
RES: to choose purchases carefully

Definition
Make purchases from companies with reliable products and ethical business practices

 

Term
RES: to speak up

Definition
Let companies know when products/services are defective or below-standard

 

Term
RES: to seek redress

Definition
Pursue remedies whenever products/services do not meet expectations

 

Term
RES: to learn

Definition
Learn skills that prepare one to be a confident, informed consumer

 

Term
RES: to reward good service

Definition
Use your buying power to support reliable sellers and service providers

 

Term
RES: to promote a healthy caring relationship with the environment

Definition
Consider the effect on the environment of consumer practices, and support companies that consider the environment as well

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