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The Consumer

Chapter 6:Consumer

TermDefinition
Consumer Anyone who buys goods or services for their own use.
Brand The identity of a particular product.It refers to the manufacturer.
False Economy When we buy something that is cheaper that other brands but becomes more expensive in the long run.
Guarantee A promise from a manufacturer to offer a refund or a replacement to consumers who purchased faulty goods.
Warranty An additional promise by a manufacturer or seller to repair damaged goods within a stated period of time.
Credit Note A voucher given by a retailer to the amount of goods returned.
Caveat Emptor Let the buyer beware.
Bar Code A small rectangle containing the identity of the item being purchased.
Receipt Written proof to a consumer that they have purchased and paid for goods or services.
Below Cost Selling When a shop sells an item cheap to attract people to the shop.
Created by: iarlamonaghan_
 

 



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