Chapter 11

prioroty

budget

Comparison Shopping
looking at similarities & differences in features, prices, & quality of competing goods or services

Full Warranty
a warranty that promises to replace or repair all parts at no cost for a certain period of time

Limited Warranty
a warranty that promises to pay all or partial replacement costs on certain parts for a specified period of time

generic

Better Business Bureau
a private organization that helps protect consumers from unfair business practices

Chamber of Commerce
a group of representatives of local businesses who meet regularly to promote business in their own town or city

Fraud
deliberately making a false description of a product to induce a sale

Bait and switch

what are 3 steps when making spending decisions?

• Set goals 
• Gather information
• Think about the Trade-offs

What 3 ways can consumers learn about goods and services?

• Gathering information 
• Comparison shopping
• Consumer protection 

3 things to consider when comparing quality, features, and price

• Does the product have a written warranty?
• Where are you shopping?
• What additional costs will there be? 

What AGENCIES help protect consumer rights?

• Better Business Bureau
• Chamber of Commerce