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Is one who acquires or purchases goods and services for his or her own consumption.
Consumer
Are products purchased for consumption to satisfy needs and wants.
Needs
Things we desire but are not essential for survival
Needs
Are tasks performed by a person or organisation for the benefit of consumers
Services
Means purchasing goods in large quantities, usually at a reduced price.
Bulk buying
is a spending plan based on income and expenses
Budget
A sum of money Owed or due
Debt
Is a legally binding document given by the manufacture to the buyer, which provides for specific repairs or replacement, without charge.
Guarantee/ Warranties
Is the total weight of a product's content and its packaging
Gross weight
is an arrangement for buying goods, where the buyer makes an initial down payment and pays the balance plus interests and instalments.
Hire purchase
Define impulse buying
buying items without thinking carefully about your needs
is commonly defines as misleading business practices that cause consumer to suffer financial or other losses
Consumer fraud
Is the price for one item or measurement
Unit price
Define Cash sales
is a business transaction in which the buyer pays for goods or services at the time of purchase
Define the term interest
Money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of debt
Explain what is meant by comparison shopping
shopping around
Is also known as a barcode symbol
Universal product code
What does Lay-a-way mean
seller holds items until customer finish paying
what is Debt
A sum of money owed or due
Sate the difference between debt and credit and lay-a-way
money owed
money being paid until the goods can be obtained
What is considered to be the the universal product code
12 digit number
Sate 3 Sate 2 acts of the wise consumer
making a shopping list
Comparing prices
Sate the difference between a good and a service
goods are items purchased that can be touched while services can not be touched
Explain what you understand by consumerism
is the movement that promotes the interests of buyers of foods and services. It drives consumer protection