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11 Cards in this Set
- Front
- Back
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Personal Economics
Chapter 8 |
Personal Economics
Chapter 8 |
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Auction
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A public sale in which property or items of merchandise are sold to the highest bidder.
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Consignment Shop
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Retail store where people sell items and the owner of the shop gets a percentage of the sale.
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Estate Sale
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Type of yard sales with more items, usually the entire contents of a household.
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Foreclosures
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Process by which the holder of a mortgage sells the property of a homeowner who has not made interest and/or principal payments on time as stipulated in the mortgage contract.
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Integrity
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Having to do with a person's honesty and moral attributes.
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Mark-up
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The difference between the wholesale price and retail price.
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Negotiating
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To bargain for a lower price.
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Patience
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The ability to wait or delay an action without becoming upset or annoyed.
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Walk Away Power
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The ability to walk away from a purchase when negotiating.
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Win - Win Deal
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A negotiation where both parties benefit.
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