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Description
Flashcards by Ella Germaine, updated more than 1 year ago
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Created by Ella Germaine
over 7 years ago
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| Question | Answer |
| What is a consumer? | A consumer is anyone who buys or purchases goods\products |
| What are goods? | Goods are products\items that can be sold or bought |
| What are services? | Services are supplying a commodity or doing work for somebody else, payment is usually involved |
| What are needs? | Needs are things we cannot live without Example: water, food, shelter and clothes |
| What are wants? | Wants are things we would like to have Example: jewellery, holidays and phones |
| What is a priority? | A priority is something that you fell is important to you |
| What is a monopoly? | A monopoly is when there is only one manufacturer of a certain thing, in other words there is no competition |
| What are the 5 consumer rights? | The 5 consumer rights are; honest and truthful information, The right to choose, The value for money, Safety, And the right to redress |
| What does redress mean? | The right to a replacement, a refund and a complaint |
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