Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
The Consumer
Keywords based on the consumer.
| Term | Definition |
|---|---|
| Consumer | A person who buys a product or service. |
| Impulse buying | Buying something on the spur if the moment without considering the consequences. |
| Loss leader | When a shop sells popular products very cheaply to lure in customers and hope they will buy other things. |
| Receipt | Written proof that the consumer paid for a good or a service. |
| Credit note | A document given by the retailer to the consumer for the value of returned goods. It can be used to purchase other products but only in the same store. |
| Caveat Emptor | A Latin saying that means "Let the buyer beware." |
| Consideration | An object of value that passes between parties in a contract. |
| Trader | A trader buys goods with the intention of then selling them. |
| Brand name | A unique name given to a product. |
| Bar code | A small box that can be found on most products. It contains black and white lines and figures which can be scanned for information such as the product name, price and weight. |
| Contract | A legally binding agreement. |
| Guarantee/warrenty | A written agreement that the manufacturer will repair or replace the product if it breaks in a period of time. |
| 3R's of consumer rights | Repair, replacement and refund. |
| Trade association | An organisation representing all or most of the producers or sellers in an industry. |
| Ombudsman | A person responsible for investigating complaints from the public against a company or organisation. |
Created by:
Matthew_cbcg
Popular Business sets