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54 Cards in this Set
- Front
- Back
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retail store
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Obtains goods from wholesalers to sell to consumers
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wholesale
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Obtains goods from suppliers to sell to retailers
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department store
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Sells a variety of goods and services in a single store
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warehouse club and super store
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Offers price advantages and wide product selection to its members
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discount store
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Sells certain lines of merchandise at below-average prices
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consignment store
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Sells used merchandise at reduced prices
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thrift
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The quality of being frugal, using resources wisely
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specialty store
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Sell goods and services for specialized purposes
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door-to-door sales
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Salesperson comes to home, either by invitation or not
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catalog shopping
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Shopper calls on telephone to buy goods listed in a catalog
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telemarketing
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Seller calls on telephone to sell goods or services
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T-commerce
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Shopping in response to ads on television
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E-commerce
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Buying goods and services on the Internet, including Internet auctions
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reliability
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Being able to depend on a person or business to back up their claims
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services
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Special consumer features offered by a store or other seller
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impulse buying
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Buying on the spur of the moment, without planning
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warranty
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A guarantee that a product will perform up to specified standards; four types are implied, written, full, and limited warranties
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estimate
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A total expected cost, in writing, for performing a service
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work order
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Gives authority to a service provider to perform services
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contract
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Legally binding papers signed by all parties in an agreement
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service warranty
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Guarantees certain quality standards of performance
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public transit
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Public modes of transportation available in cities---bus, subway, trolley
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carpooling
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Grouping with others to share rides to and from work
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depreciate
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To decrease in value
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disclosure sheet
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Describes any repairs or replacements done on a used care
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make
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The brand of a vehicle
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model
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A line of vehicles made by a specific company, such as Ford Taurus
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domestic
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American-made
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imported
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Foreign-made
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auto superstore
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Dealerships with huge inventories of new and used vehicles
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fuel economy
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Type of fuel used and miles per gallon
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power
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A vehicle’s ability to accelerate for speed
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performance
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A vehicle’s ability to handle, brake, and accelerate on the road
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invoice price
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The price the dealer pays the manufacturer
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base price
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The price of a vehicle with standard equipment
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options
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Features available at extra cost or special prices
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manufacturer’s suggested retail price
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Base price + price options installed by manufacturer + manufacturer’s transportation charge
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sticker price
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Dealer’s initial asking price as found on the sticker in the vehicle window
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up front costs
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Costs when signing a lease---deposit, taxes, and registration fees
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leasing
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Monthly payments in eschange for exclusive use of vehicle for a time
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capitalized cost
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Price for a leased care
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capitalized cost reduction
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Payment similar to down payment that results in lower monthly payment
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lease term
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Length of the lease---usually, 24, 36, or 48 months
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option to purchase
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At end of lease, the alternative to purchase the leased vehicle
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residual value
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The worth of a leased vehicle at the end of the lease
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installment loan
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A loan to be repaid in equal payments
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liability insurance
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Covers when liable or responsible for an accident where others are injured or killed
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collision insurance
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Pays for loss or damages to insured person’s care due to accident
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comprehensive physical damage insurance
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Pays for loss or damage not resulting from a collision---e.g., fire, theft, falling objects
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no-fault auto insurance
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Pays claims regardless of who is at fault
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underinsured motorist insurance
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Covers difference between liability coverage and underinsured motorist and the amount of losses
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rental reimbursement
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Covers costs of renting a care while yours is being repaired
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premium
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The cost for insurance coverage for the term of the insurance policy
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deductible
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The amount an insured person must pay before the insurance company pays on a claim
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