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Business C15
| Term | Definition |
|---|---|
| unit price | a price per unit of measure |
| brand | a name given to a product or service to distinguish it from other similar and competitive items |
| impulse buying | buying quickly without much thought |
| consumer movement | consumers united to demand fair treatment from businesses and to fight against unfair business practices |
| fraud | deception of consumers by providing false information in an effort to make a sale |
| express warranty | a warranty that is made orally or in writing and promises a specific quality of performance |
| implied warranty | a guarantee imposed by law and is understood to apply even though it has not been written or stated |
| mediation | use of a third party who tries to resolve the complaint between the consumer and the business |
| arbitration | a third-party action resulting in a decision that is legally binding |
| class action suit | a legal action by one party on behalf of a group of people who all have the same grievance |
| small claims court | a court system in every state that exists to resolve cases involving small amounts |
Created by:
PRO Teacher
shelleypruit
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