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