Personal Finance- Chapter 4
open dating
A method of indicating the freshness or "shelf life" of perishable product
Cooperative
A nonprofit organization owned and operated by its members for the purpose of saving money on the purchase of certain goods and services.
Legal aid society
One of a network of community law offices that provides free or low cost assistance in court
The lowest price is generally the wisest choice when
Quantity and quality are basically the same
Unit Pricing
The use of a standard unit of measurement to compare the prices of packages that are different sizes.
Class-action suit
a legal action on behalf of all people who have suffered the same injustices.
Products often purchased using price negotiation are
automibles
When shopping avoid
impulse buying
Rebate
A partial refund of the price of a product.
Down Payment
A portion of the total cost of an item that must be paid at the time of purchase.
A drawback of paying on credit is having
Additional fees
fraud
Dishonest business practices that are meant to deceive, trick, or gain an unfair advantage.
Mediation
The attempt by a neutral third party to resolve a conflict between a customer and a business through discussion and negotiation.
arbitration
a process in which a conflict between a customer and a business is resolved by an impartial third party whose decision is legally binding.
Better Business Bureaus handle
complaints against local merchants
An advantage of direct selling is
convenience
Disagreements in small claims court are usually settled by
judges
A good time to find a bargain on a swimsuit is at a
mid-season sale
An advantage of a cooperative is that it
saves members money
To find a local dispute resolution program, a person should contact
small claims court