Chapter 13: Consumer Purchasing & Protection Vocabulary

Small Claims Court

a court that deals with legal disputes that involve amounts below a certain limit.

Open Dating

a labeling method that indicates the freshness, or shelf life, of a perishable product, such as milk or bread.

Class-action Suit

a legal action on behalf of all the people who have suffered the same injustice.

Legal Aid Society

a network of community law offices that provide free or low-cost legal assistance.

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.

Arbitration

a process whereby a conflict between a customer & a business is resolved by an impartial third party whose decision is legally binding.

Service Contract

a separately purchased agreement by the manufacturer or distributor to cover the costs of repairing the item.

Warranty

a written guarantee from the manufacturer or distributor that states the conditions under which the product can be returned, replaced, or repaired.

Fraud

dishonest business practices that are meant to deceive, trick, or gain an unfair advantage.

Approach

method.

Document

record.

Marginal Benefit

the additional satisfaction or utility that a person receives from consuming an additional unit of a good or service.

Mediation

the attempt by a neutral third party to resolve a conflict between a customer & a business through discussion and negotiation.

Marginal Cost

the cost added by producing one extra item of a product.

Impulse Buying

the purchasing of items on the spur of the moment.

Unit Pricing

the use of a standard unit of measurement to compare the prices of packages that are different sizes.