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6.01Personal Finance

shopping options and practices

TermDefinition
Retail store obtain goods from wholesalers to sell to consumers
wholesale obtain goods from suppliers to sell to retailers
department store sells a variety of goods and services in a single store
warehouse club and super store offers price advantages and wide product selection to its members
discount tore sells certain lines of merchandise at below-average prices
consignment store sells used merchandise at reduced prices
thrift the quality of being frugal, using resources wisely
specialty store sell goods and services for specialized purposes
door-to-door sales salesperson comes to home, either by invitation or not
catalog shopping shopper calls on telephone to buy goods or services
telemarketing seller calls on telephone to sell goods or services
T-commerce shopping in response to ads on television
E-commerce buying goods and services on the internet, including internet auctions
reliability being able to depend on a person or person or business to back up their claims
services special consumer features offered by a store or other seller
impulse buying buying on the spur of the moment, without planning
warranty warrant guarantee that a product will perform up to the specified standards; four types are implied, written, full,and limited warranties
estimate a total expected cost, in writing, for performing servies
work order gives authority to a service provider to perform services
contract legally binding papers signed by all parties in an agreemnet
service warranty guarantees certain quality standards of performance
Created by: hillro