Shared Flashcard Set

Details

smart shopping basics
personal finance
30
Finance
11th Grade
04/30/2012

Additional Finance Flashcards

 


 

Cards

Term
1.) Retail stores
Definition
sell goods and services diretly at their place of business.
Term
2.) nonstore sellers
Definition
sell goods and services in different ways and from different locations.
Term
3.) telemarketing
Definition
is a form of selling that involves the seller phoning you to promote the purchase of goods or services.
Term
4.) t-commerce
Definition
refers to shopping on television.
Term
5.) e-commerce
Definition
refers to buying and selling goods and services online.
Term
6.) consumer cooperatives
Definition
are nonretail associations owned and operated by a group of members for their own benefit rather than for profit.
Term
7.) advertising
Definition
is a paid message touting the attributes of something in order to convince consumers to buy it.
Term
8.) comparison shopping
Definition
is the process of gathering information about products and services to find the best quality or usefuless as the best price.
Term
9.) warranty
Definition
guarantees that a product will meet certain performance amd quality standards.
Term
10.) full warranty
Definition
the basic types of types of written warranties are full and limited.
Term
limited warranty
Definition
provides sevice, repairs, and replacements only under certain conditinons
Term
implied merchantability
Definition
is addition to the written warranty, most products carry unwritten imoplied warranties of merchantability and fitness.
Term
implied fitness
Definition
is a product must be fit for any performance or purpose promised by the seller.
Term
extended warranty
Definition
when you buy major appliances, autos, or electronic porducts, you often are offered a service contrat.
Term
work order
Definition
Gives authority to a service provider to perform services
Term
reliability
Definition
Being able to depend on a person or business to back up their claims
Term
wholesale
Definition
Obtains goods from suppliers to sell to retailers
Term
department store
Definition
Sells a variety of goods and services in a single store
Term
warehouse club and super store
Definition
Offers price advantages and wide product selection to its members
Term
discount store
Definition
Sells certain lines of merchandise at below-average prices
Term
consignment store
Definition
Sells used merchandise at reduced prices
Term
thrift
Definition
The quality of being frugal, using resources wisely
Term
specialty store
Definition
Sell goods and services for specialized purposes
Term
door-to-door sales
Definition
Salesperson comes to home, either by invitation or not
Term
catalog shopping
Definition
Shopper calls on telephone to buy goods listed in a catalog
Term
services
Definition
Special consumer features offered by a store or other seller
Term
impulse buying
Definition
Buying on the spur of the moment, without planning
Term
estimate
Definition
A total expected cost, in writing, for performing a service
Term
contract
Definition
Legally binding papers signed by all parties in an agreement
Term
service warranty
Definition
Guarantees certain quality standards of performance
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