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Chpt. 15 GB
Consumer Buying Decisions
| Question | Answer |
|---|---|
| What is unit price? | a price per unit of measure |
| What is a brand? | a name given to a product or service to distinguish it from other similar and competitive items. |
| What is impulse buying? | The opposite of spending time and effort to buying too quickly. |
| What is consumer movement? | To fight against unfair business practices, consumers united to demand fair treatment from businesses. |
| What is fraud? | occurs when consumers are given false information in an effort to make a sale. |
| What is a guarentee? | a promise by the manufacturer or dealer, usually in writing, that a product is of a certain quality. |
| What is implied warranty? | imposed by law and is understood to apply even thought it has not been stated. |
| What is an express warranty? | made orally or in writing and promises a specific quality of performance. |
| What is mediation? | involves the use of a third party who tries to resolve the complaint between the consumer and the business. |
| What is a class action suit? | legal action by one party on behalf of a group of people who all have the same grievance. |
Created by:
main92
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