Chapter 8: Consumer Purchasing Strategies and Legal Protection

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Comparison shopping is

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12 Terms

1

Comparison shopping is

the process of evaluating alternative stores, brands and prices.

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2

a rebate is

a partial refund of the price of a product

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3

service contracts are

agreements between business and consumer to cover the repair costs of a product.

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4

personal factors that could affect your daily buying habits:

education, gender, age, occupation

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5

Open dating is

The information on the label of some food products includes that help the consumer determine freshness.

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6

an advantage of leasing an automobile is

smaller upfront cash outlay

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7

A full warranty is

Product can be fixed or replaced during a reasonable amount of time

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8

A limited warranty is

covers only certain aspects of the product such as parts or requires the buyer to incur part of the cost for shipping or repairs

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9

what are the following automobile driving costs are categorized as fixed ownership costs

Registration fees, insurance, interest on car loans, depreciation.

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10

Most consumer complaints are resolved

at the original sales location

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11

arbitration is

a third party tries to settle a grievance and the process is binding.

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12
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