Cosumer Rights & Responsibilities - Chapter 4 Flashcards
What is a consumer?
Consumer is someone who buys goods and services for their own use.
What is False Economy?
False economy is when we purchase a cheaper product, but it turns out to be more expensive in the long run because it doesn’t last as long and needs to be replaced sooner.
What is a budget?
A financial plan that sets out the expected future income and expenditure.
What is impulse buying?
Impulse Buying occurs when we make a sudden, unplanned decision to buy something.
What are the two laws that protect consumers in Ireland?
Sale of Goods and Supply of Services Act 1980 & Consumer Protection Act 2007.
Sale of Goods and Supply of Services Act 1980 - goods must be?
A consumer has the following rights under this law when buying goods. Goods must be:
(a) Merchantable quality
(b) fit for purpose
(c) as described
(d) match the sample
Sale of Goods and Supply of Services Act 1980 - Services must ensure?
A consumer has the following rights under this law when buying services. Services must ensure:
(a) supplier is qualified and has necessary skills
(b) supplier provides service with proper care
(c) materials used are of merchantable quality
(d) goods sold as part of service are of merchantable quality
And what is a refund?
This means the consumer will get back the full amount paid for the product.
What is the Consumer Protection Act 2007?
This law protects consumers from misleading claims about goods/services/prices, and this law protects consumer from misleading/aggressive practices.
What is Caveat Emptor?
Let the buyer beware.
What is a repair?
This means the retailer must get the fault with the product fixed for the consumer.
What is a replacement?
This means the retailer gives the consumer a perfect substitute for the damaged product sold
