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Chapter 13
personal finance
23
Finance
10th Grade
04/30/2012

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Cards

Term
retail stores
Definition
sell goods and services directly at their place of business
Term
nonstore sellers
Definition
sell goods and services in different ways and from different locations
Term
telemarketing
Definition
a form of seeling that invovles the seller phoning you to promote the purchase of goods or services
Term
T-commerce
Definition
refers to shooping on television
Term
e-commerce
Definition
refers to buying and selling foods and services online
Term
consumer cooperatives
Definition
nonretail associations owned and operated by a group of members for their own benefit rather than for profit.
Term
advertising
Definition
paid message touting the attributes of something in order to convince consumers to buy it
Term
comparison shopping
Definition
the process of gathering information about products and services to find the best quality
Term
warranty
Definition
guarantees that a product will meet certain performance and quality standards
Term
full warranty
Definition
transfer of coverage
Term
limited warranty
Definition
provides service, repairs, and replacements only under certain conditions
Term
Implied merchantability
Definition
a product is what it is called and does what its name implies
Term
implied fitness
Definition
a product must be fit for any performance or purpose promised by the seller
Term
extended warranty
Definition
additional cost
Term
work order
Definition
requests service and decribes the work that will be performed
Term
estimate
Definition
A total expected cost, in writing, for performing a service
Term
wholesale
Definition
Obtains goods from suppliers to sell to retailers
Term
warehouse club and super store
Definition
Offers price advantages and wide product selection to its members
Term
door-to-door sales
Definition
Salesperson comes to home, either by invitation or not
Term
reliability
Definition
Being able to depend on a person or business to back up their claims
Term
consignment store
Definition
Sells used merchandise at reduced prices
Term
thrift
Definition
The quality of being frugal, using resources wisely
Term
catalog shopping
Definition
Shopper calls on telephone to buy goods listed in a catalog
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