Shopping
Brianna wants to get her friend a purse for her birthday. She went to a few stores and checked online for the best value. This process is called ___.
comparison shopping
A commercial on social media is an example of ___.
advertising
unit price
Cell phone agreements and gym memberships are examples of ___.
consumer contracts
If a consumer has a problem with a product they bought, the first step to seek a remedy is to ___.
go back to the store where they bought the product
A name, term, design, symbol, or other feature companies use to distinguish their products from others.
name brand
While in line to pay for a purchase you spot another item on sale. You purchase it as well even though it wasn't your plan. You are making an ___.
impulse purchase
Sally bought a case of 24 bottles of water for $4.95. What is the unit price per bottle?
unit price = $4.95 / 24 = 21 cents
Advertising a low price item which is not available in the store, and the store tries to sell consumers higher priced items is ___.
illegal
Skimming credit and debit transactions, phishing, and hacking are ways thieves to steal your ___.
personal information/identity
A product a store manufactures that is comparable in quality and effectiveness to a name brand product. It is typically less expensive and is not usually advertised.
generic products
An item priced below cost to attract you to the store is called a ___.
loss leader
An item at Target costs $29.99. With a 5% coupon what is the cost before taxes?
cost = $29.99 - 5% = $28.49
The local ___ is a nonprofit agency you could contact to resolve a dispute with a store in your neighborhood.
Better Business Bureau (BBB)
An unwritten guarantee that the product is of sufficient quality to fulfill the purpose for which is was designed is known as ___.
implied warranty
Having a ___ is helpful when seeking a refund.
sales receipt
A salesperson is guilty of ___ if they try to talk you into buying a more expensive brand than the advertised, discounted model that is no longer in stock.
bait and switch
A dinner bill is $38.00. The county tax and state tax combined is 9%. What is the total bill including taxes? (The tip will be paid separately.)
bill = $38.00 x 1.09 OR
bill = $38.00 + ($38.00 x 0.09)
bill = $41.42
The agency that is designed to protect consumers from unfair or deceptive business practices is ___.
Federal Trade Commission (FTC)
Shredding personal documents is one way to ___.
protect your personal information
Your neighbor just won the lottery and has made several purchases to impress others. This is an example of ___.
conspicuous consumption
The price $599.99 is an example of ___.
psychological pricing
To receive a ___, you must provide your receipt, proof of purchase, and a form to collect the money from the the manufacturer.
rebate
After buying a car on craigslist list you realize the air conditioning does not work. To best resolve this problem with the seller, you should consider ___.
working with an arbitrator since the result will be legally binding
A car dealer covers the engine, wheels, and brakes for 6 years or 60,000 miles for a new motorcycle is an example of a ___.
limited warranty