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Chapter 07 Being a Wise Consumer
Vocab
27
Other
8th Grade
11/30/2012

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Term
Information Ads
Definition
ads that describe the featutres of a prouduct or service and give facts about its price and quality.
Term
Services
Definition
work performed by one for others
Term
Department Store
Definition
 a store that carries a wide range of merchandise
Term
Consumer
Definition
person who buys goods and services
Term
Image Ad
Definition
ads that connect a product or service to a lifestyle that consumers would like to have.
Term
Advertisement
Definition
message to persuade consumers to buy
Term
Specialty Store
Definition
 a store that carries a specific type of merchandise
Term
Chain Store
Definition
 a group of stores that carry the same name and the same merchandise
Term
Media
Definition
means of communication by which advertisers send their messages.
Term
Redress
Definition
action taken to correct a wrong
Term
Factory Outlet 
Definition
a store that carries only one manufacturer's products
Term
Infomercials
Definition
extended-length informational commercials that appear on television.
Term
Expires
Definition
runs out
Term
Discount stores
Definition
 a store thats carries a limited selection of items at low prices
Term
Shoplifting
Definition
taking items from a store without paying them
Term
Exchange
Definition
a trade of one item for another
Term
Refund
Definition
the return of your money in exchange for the item
Term
Expenses
Definition
 money you spend to buy goods and services
Term
Warranty
Definition
the manufacturers written promise to repair or replace a product if it does not work or is miss placed
Term
Fixed Expenses
Definition
expenses that are always the same
Term
Flexible Expenses
Definition
 expenses that vary
Term
Income
Definition
 the amount of money you earn or receive regulary
Term
Interest
Definition
fee paid to use your money
Term
Budget
Definition
plan for using your money
Term
Layaway plan
Definition
scheduled payment plan in which you put a small amount of money down and make a regular payments until you have paid for the item
Term
Debit card
Definition
 a card that is issued by a bank and is used to withdraw money directly from  a person's bank account
Term
Credit
Definition
 a method of payment that lets you buy now and pay later
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