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Personal Finance - Objective 6.01 - Shopping Practices

AB
retail storeObtains goods from wholesalers to sell to consumers
wholesaleObtains goods from suppliers to sell to retailers
department storeSells a variety of goods and services in a single store
warehouse club and super storeOffers price advantages and wide product selection to its members
discount storeSells certain lines of merchandise at below-average prices
consignment storeSells used merchandise at reduced prices
thriftThe quality of being frugal, using resources wisely
specialty storeSell goods and services for specialized purposes
door-to-door salesSalesperson comes to home, either by invitation or not
catalog shoppingShopper calls on telephone to buy goods listed in a catalog
telemarketingSeller calls on telephone to sell goods or services
T-commerceShopping in response to ads on television
E-commerceBuying goods and services on the Internet, including Internet auctions
reliabilityBeing able to depend on a person or business to back up their claims
servicesSpecial consumer features offered by a store or other seller
impulse buyingBuying on the spur of the moment, without planning
warrantyA guarantee that a product will perform up to specified standards; four types are implied, written, full, and limited warranties
estimateA total expected cost, in writing, for performing a service
work orderGives authority to a service provider to perform services
contractLegally binding papers signed by all parties in an agreement
service warrantyGuarantees certain quality standards of performance


Ms. Gentry

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