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16 Cards in this Set
- Front
- Back
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budget
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a tabulation of income and planned expenditures
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impulse buying
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making unplanned nonessential purchases
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financial plan
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the process of developing and implementing plans to achieve financial objects
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escrow account
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a sum of money collected by a lender in addition to loan repayments for the purpose of paying for taxes and insurance to protect the mortgaged property
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contingency
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an uncertain or unexpected event that may result in unplanned expense
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deductibles
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an amount which must be paid by a policyholder before his insurance will begin to cover claims
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fixed expenses
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expenses which do not rise or fall as the family's income changes in the short run
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variable expenses
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expenses which may rise and fall as the family's income changes
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Better Business Bureau
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an organization providing information about businesses and their products to consumers and helping consumers gain redress for unjust treatment from businesses
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unit pricing
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the price per measure of the product
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caveat emptor
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"Let the buyer beware!"
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bait-and-switch
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deceptive advertising that draws customers into the business for an advertised product that is unavailable or unsuitable thereby providing an opportunity to sell a more expensive product
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consumerism
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political action on behalf of consumer rights
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redress
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to compensate or make amends for a wrong done
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cease and desist order
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a legal order prohibiting a party from continuing a harmful practice
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counteradvertising
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advertising which a firm must must produce at its own expenses for the purpose of correcting prior false claims in its advertising
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