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Consumer (JC)

Key words and concepts for junior cert consumer

TermDefinition
Guarantee A promise from a manufacturer to offer a refund or replacement to consumers who have purchased faulty goods
Warranty An additional promise by a manufacturer or seller to repair damaged goods within a period of time
Credit note A document given by the retailer to the consumer for the value of the goods returned. It allows the consumer to purchase other goods from that shop equal in value.
Bar code Small rectangle containing black and white lines and figures which contains information such as product name , price, weight etc
Receipt Written proof to the consumer that they have purchased and paid for a good or service.
Below cost selling When certain shops sell products very cheaply in order to attract people into their shop.
Consumer Anyone who buys goods or services for their own use
A Brand The identity of a particular product. Usually refers to the manufacturer of the product.
Name important agencies whose job is to protect consumers. National Consumer Agency, The Ombudsman, The Consumer Association of Ireland, Trade Associations.
What does ASAI stand for? The Advertising Standards Authority of Ireland.
Caveat Emptor means? 'let the buyer beware'
A False Economy A situation where we buy something that costs less than other brands or seems to be better value but turns out to be more expensive in the long run.
Created by: missoconnell
 

 



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