Question | Answer |
consumers | anyone who buys goods or services |
what is the difference between goods and services? | goods are products that are bought e.g. food, clothes services are doing work for another usually involving payment e.g. hairdresser, car repair |
what are needs and wants? | "Need" is something that is essential for survival like food, water or shelter. "Want" is something that you don't really need, but if you had it, it could make your life a bit better. |
needs and wants change depending on what? | age, culture, circumstances |
what is a priority? | a priority is something you put first and is very important to you. |
what are the consumer rights? | the right to truthful information, the right to choose the right to value for money the right to safety the right to redress |
what is a monopoly? | a monopoly happens when there is only one supplier of a product or service i.e. there is no competition e.g. ESB |
what is redress? | 1. Refund 2. Replace 3. Repair |
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