chapter 6 in business studies book.
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| Consumer | anyone who buys goods or services.
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| False Economy | an action which saves money at the beginning but which, over a longer period of time, results in more money being wasted than being saved.
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| Caveat Emptor | Latin term meaning "let the buyer beware." A legal maxim stating that the buyer takes the risk regarding quality or condition of the property purchased, unless protected by warranty.
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| Merchantable Quality | refers to a basic level of quality and performance that is expected in a product.
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| Guarantee | a written assurance that some product or service will be provided or will meet certain specifications.
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| Credit Note | a monetary instrument issued by a seller that allows a buyer to purchase an item or service from that seller on a future date; i.e A gift card or store card credit.
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| Loss Leader | a product sold at a low price (at cost or below cost) to stimulate other, profitable sales.
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| Ombudsman | a government appointee who investigates complaints by private persons against the government .
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| Receipt | a written acknowledgement that a specified article or sum of money has been received as an exchange for goods or services.
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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