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The Consumer

TermDefinition
Cavest Emptor A Latin phrase that means 'Let the buyer beware.' This means consumers need to use common sense when buying goods and services.
Guarantee A promise by the manufacturers that it will sort out any problems with a product or service within a specific, fixed period of time.
Sustainability A process of balancing the social, economic and environmental systems for the wellbeing of individuals now and in the future.
Sustainable Consumption Buying goods and services that do not harm society, the environment or the economy.
Credit Note Limits you to buying something else from the same shop, which may not suit you.
Refund You can receive the cost of the item back, either in cash or as money paid back on to your credit card.
Replacement You can have the same or an alternative product that is free from damage or faults.
Repair The item may be fixed free of charge. The repair must be permanent.
CCPC Competition and Consumer Protection Commission.
CER Commission for Energy Regulation.
ComReg Commissions for Communications Regulation.
FSO Financial Service Ombudsman.
Consumer A person who buys goods or services for their own use.
Good Something you buy that you can touch or see, e.g. phone, book, shirt.
Service Something that is done for you, e.g. bus ride home, haircut, car wash.
CSR Corporate social responsibility
The ethical consumer ethical consumers choose goods and services that meet their needs and reflect their moral values
Ethical goods Ethical goods are produced in a way that is kind to the environment and also to the people who produce them
Ethical consumers Ethical consumers buy products and services that have been produced under ethical conditions.
Boycott A voluntary act of protest in which consumers refuse to buy from or deal with a particular company
CSR refers to organizations acting to benefit society and/or the environment
Created by: Ava White
Popular Business sets

 

 



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