consumer studies

Question	Answer
consumers	anyone who buys goods or services
what is the difference between goods and services?	goods are products that are bought e.g. food, clothes services are doing work for another usually involving payment e.g. hairdresser, car repair
what are needs and wants?	"Need" is something that is essential for survival like food, water or shelter. "Want" is something that you don't really need, but if you had it, it could make your life a bit better.
needs and wants change depending on what?	age, culture, circumstances
what is a priority?	a priority is something you put first and is very important to you.
what are the consumer rights?	the right to truthful information, the right to choose the right to value for money the right to safety the right to redress
what is a monopoly?	a monopoly happens when there is only one supplier of a product or service i.e. there is no competition e.g. ESB
what is redress?	1. Refund 2. Replace 3. Repair

Resource summary

	Created by maireaddewar over 10 years ago