click below
click below
Normal Size Small Size show me how
Consumer Protection
Term | Definition |
---|---|
Fair Credit Reporting Act | ensures that the information in your credit report is accurate, complete, and private |
Social Security Number | a 9-digit number issued to U.S. citizens, permanent residents, and temporary working residents |
Comparison Shopping | looking for the same product in multiple stores to find the best price or the best product |
Contract | an agreement between a buyer and a seller |
Primary Need | something that you must have to live from day to day, like food, shelter, and clothing |
Secondary Need | something that can help you improve your day to day life, like a computer, car, or television |
Recall | the voluntary or involuntary removal of a dangerous product from the market |
Value | what you think a purchase is worth to you personally, taking into consideration how it will help to improve your life |
Want | something that won’t help you live from day to day, like jewelry, video games, and soda |
Warranty | the seller’s promise to fix or replace the product if something goes wrong |