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PCS Personal Fin

Personal Finance Key Terms Ch. 6

TermDefinition
branding the promotion of a product or service by identifying it with distinct characteristics (usually associated with public perception, quality or effectiveness)
brand recognition/awareness refers to the public's ability to recall and recognize a brand by its logo, jingles, packaging, etc.
buyer's remorse feeling regret or concern after making a large purchase
caveat emptor Latin term for "buyer beware"
financing to buy an item with credit; paying over time
marketing the process of communicating the value of a product or service to customers
opportunity cost refers to the financial opportunity that is given up because you choose to do something else with your money
significant purchase an amount of money you spend, usually $300, that causes some pain to part with
Created by: Ms.Sala