Chapter 9

A search engine offered by brokers

Bots

A special offer designed to help sell goods and services

Buying incentive

The sale of products no longer produced is a

Closeout sale

Non-retail associations owned and operated by members for their own benefit.

Consumer cooperative

Which E-commerce site is available to post merchandise for free?

Craigslist

The process of buying and selling goods and services on line.

E-Commerce

What is puffery?

Exaggerating claims about a product

A limited warranty is a guarantee for service, repairs, and replacements for lifetime of the product. (T/F)

False

Community-based listings (such as Craig's List) are policed tightly. (T/F)

False

Merchandise on infomercials is reliable and monitored by the government. (T/F)

False

A sweepstakes or contest

Games of chance

An item priced at or below cost to attract buyers.

Loss leader

A means of showing a brand name product in movies and television

Product Placement

A cash back offer

Rebate

The process of buying and selling merchandise on television

T-Commerce

An example of a nontraditional seller can be

T-commerce, E-commerce, and telemarketing

The sale of merchandise through the phone

Telemarketer

An Energy-Guide label is a label that shows the estimated annual cost of operating an appliance and other information. (T/F)

True

Clearance sale means the owners are closing the business. (T/F)

True

Members contribute services and pay dues to join a cooperative. (T/F)

True

You should control the urge to buy what you do not need or want just because it is on sale. (T/F)

True

Costco and Sam's club are:

Warehouse clubs

What is equilibrium?

When supply and demand intersect

Direct mail advertising can be done through

e-mail, telephone, and catalogs

Sound shopping skills should include

money handling, keeping receipts, and keeping track of your purchases