click below
click below
Normal Size Small Size show me how
Class Ann'sRevision
Revision in prep for Christmas tests
Term | Definition |
---|---|
Consumer | A person who buys goods and services for their own use and not for resale |
Impulse buying | Buying something on the spur of the moment without thinking |
False economy | Buy something that appears cheaper but turns out to be more dear in the long run |
Receipt | Written proof of purchase that the consumer has purchased the good or service |
Money | Anything of value that is widely accepted as payment for goods and services |
Bartering | Swapping of goods and services for other goods and services |
Commercial bank | Business that provides financial services to personal and business customers |
Lodgement | Adding money to a current or savings account |
Withdrawal | Taking away money from a current or savings account |
Credit note | Document from shop to the value of the goods returned allowing a person to purchase other goods from that shop for that value |
Merchantable | When a product is of good quality |