Shared Flashcard Set

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vocab page 312
vocabulary
30
Finance
10th Grade
04/30/2012

Additional Finance Flashcards

 


 

Cards

Term
retail store
Definition
sells goods and services directly at their place of business.
Term
nonstore seller
Definition
sells goods and services in different ways and form different locations.
Term
telemarketing
Definition
a form of selling that involves the seller phoning you to promote the purchase of goods or services.
Term
t-commerce
Definition
refers to shopping on television
Term
e-commerce
Definition
refers to buying and selling goods and services online.
Term
consumer cooperative
Definition
nonretail associations owned and operated by a group of members for their own benefit rather than for profit.
Term
advertising
Definition
a paid message toution about goods, services, and sellers.
Term
comparison shopping
Definition
process of gathering information about products and services to find the best quality or usefulness at the best price.
Term
warranty
Definition
guarantees that a product will meet certain performance and quality standards.
Term
full warranty
Definition
full repair, replacement, and coverage on the product you purchased.
Term
limited warranty
Definition
provides service, repairs, and replacements only under certain conditions.
Term
implied merchantability
Definition
means that a product is what it's called and does what the name implies.
Term
implied fitness
Definition
means that 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 products, you often are offered this
Term
work order
Definition
request service and describes the work that will be performed.
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
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
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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