761994
Description
Flashcards by Ali Dragozova, updated more than 1 year ago
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Created by Ali Dragozova
about 10 years ago
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| Question | Answer |
| What is a Consumer? | A consumer is anyone who buys goods or services for their own use. |
| What will a good consumer do? | 1.Keep receipts in a safe place 2.Know their legal rights 3.Know who to go to for help 4.Check the prices in a number of retailers before deciding where to buy 5.Try buy goods of good value and quality 6.Avoid Impulse buying |
| Name a Consumer Law. | The Sale of goods and Supply of Services Act 1980 |
| What does this Consumer Law say about goods? | all goods must be: 1.Of merchantable quality 2.Fit for the purpose intended 3.Same a sample shown 4.Same as the description |
| What does this consumer law say about the supply of services? | When a service is supplied: 1.The person must have the necessary skill. 2.Must do the job properly 3.Material used must be of good quality |
| What is a credit note? | A credit note is a voucher for a shop which is given to a customer who has purchased a faulty good. It is for the same value of the good returned. |
| What is a guaranty? | A promise from the Manufacturer to consumer to replace or refund their faulty good. |
| What is a Warranty? | It is an additional promise from the manufacturer to the consumer to repair a faulty good within a certain period. |
| Explain False Economy | This is a situation where we buy something that costs less or seems better value than other products but turns out more expensive in the long run. |
| Explain the saying "Caveat Emptor" | This means "Let the buyer Beware" This meant buyers had to look out for themselves as their was no one to look out for them. |
| Name 4 Solutions and remedies for purchasing a faulty good | 0 Replacement 0 Refund 0 Repair 0 Credit note |
| What is Redress | Redress refers to refunds,replacements,credit notes these are types of compensation for a consumer who has purchased a faulty good or poor-quality services. |
| Why might a consumer not be entitled to any form of redress | 1.If they caused the fault themselves 2.If they don't return the good within a reasonable amount of time. 3.If the fault was pointed out a the time of purchase 4.If they simply changed their mind |
| Who's responsible for the goods and services they sell? What can they not say to a consumer with a faulty good? | The retailer is responsible,they can't tell a consumer to go to the manufacturer. |
| What 2 pieces of info should be on a guaranty/warranty? | The name and address of the person offering it. The period of time it is for. |
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