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business
chapter 6
| Term | Definition |
|---|---|
| consumer | a person who buys goods or services for their own use |
| brand | identity of a product |
| false economy | buying something thinking it's going to be cheaper and it ending up costing more in the long run |
| caveat emptor | let the buyer beware |
| guarantee | a promise from a manufacturer to offer a refund, repair or replace any faulty goods |
| warranty | an additional promise to the consumer, like a guarantee |
| 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 that are equal in value |
| barcode | a small rectangle containing black and white lines found on the packaging of most products |
| receipt | written proof to the consumer that they have purchased and paid for a good or service |
| below cost selling | when a certain shop is selling knock off products very cheaply |
Created by:
sineadschool
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