Flashcards

Unit 3 & 4 Vocab

Taj Simmons English 25 cards

Cards in this deck (25)

1Equal Employment Opportunity Commission (EEOC)agency that administers and enforces civil rights laws against workplace discrimination against race, religion, sex, etc.
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2Fair Labor Standards Act (FLSA)a federal law which establishes minimum wage, overtime pay eligibility, record keeping, and child labor standards affecting full-time and part-time workers in the private sector and in federal, state, and local governments
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3Family Medical Leave Act (FMLA)United States labor law requiring covered employers to provide employees with job-protected and unpaid leave for qualified medical and family reasons
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4LesseePerson who rents property
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5Lessorperson who owns property and rents it
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6Occupational Safety and Health Administration (OSHA)Federal agency that enforces safety and health regulations in the workplace
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7Ponzi schemeInvestment operation which money from new investors is used to pay old investors
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8Regulatory complianceAn organization’s willingness to comply with the law on workplace laws. Failure to oblige results in penalties
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9Security depositAmount a renter pays to help protect the property owner against financial loss in case the renter damages or fails to pay the rent
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10TrademarkA symbol, words, or an idea that is protected from the government from being copied and sold by someone else
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11Consumer advocateGroups or individuals who promote consumers rights
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12Department storea store selling many varieties of goods in different departments
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13Factory outleta store in which goods, in large quantities, are sold by the manufacturers at a large discount price
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14LeaseContract that states the conditions, terms, and rent for use of an asset
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15Pyramid schemeFraudulent investment plan
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16Bait and switchThe fraudulent practice of advertising and luring consumers to a store with promised products or services that then appear to be unavailable and replaced with higher priced items
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17Commerceagency to further the interest of the local business
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18Energy Guide LabelYellow sticker, required by law, which allows a consumer to compare the yearly cost to operate an appliance
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19Extended warrantyA warranty that is purchased and extends beyond the basic warranty usually giving more time and more coverage
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20Implied warrantyA warranty that is not written but is implied that a product sold functions as it is intended
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21Limited warrantyA warranty that covers part of a product but not all. Example: might cover parts but not labor
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22Loss LeaderA product or service sold at a substantial discount in order to generate additional sales
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23Phishingsending an electronic message falsely claiming to be a legitimate business for the purpose of gaining personal or financial information
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24Redressmoney or other benefits that a consumer receives as fair compensation for a company’s mistake for remedy for wrong or loss
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25TestimonialsStories told by happy consumers about a product or service that may influence others
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