Shared Flashcard Set

Details

Smart Shopping Basics
Smart Shopping Basics
31
Finance
10th Grade
05/01/2012

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Cards

Term
Retail Stores
Definition
Goods and Services directly at theer place of buisness
Term
Nonstore Sellers
Definition
Sell goods and services in diffrent ways and from diffrent ways and from diffrent locations
Term
Telemarketing
Definition
Form of selling that involves the seller phoning you to promote the purchase of goods or services.
Term
T-commerce
Definition
refers to shoppingon on television
Term
E-commerce
Definition
Buying and selling goods 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 messagetouting the attributrs of something in order to convice sonsumers to buy it.
Term
Comparision Shopping
Definition
The process of gathering information about products and services to find the best quality or usefulness at the best price
Term
Warranty
Definition
Guarantees that the product will meet certain performance and quality standards
Term
Full Warrenty
Definition
Provides for free repair or replacement of the warrented item or part if any defect occurs while the warrenty is in effect
Term
Limited Warranty
Definition
Provides service, repairs, and replacements only under certain conditions.
Term
Implied Merchantability
Definition
The 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
Major appliances, autos, or electronic products, you often are offered a service contract
Term
Work Order
Definition
Requests service and describes the work that will be performed
Term
department store
Definition
Sells a variety of goods and services in a single store
Term
wholesale
Definition
Obtains goods from suppliers to sell to retailers
Term
warehouse club andsuper 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
reliability
Definition
Being able to depend on a person or business to back up their claims
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
work order
Definition
Gives authority to a service provider to perform services
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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