Goods and services Flashcards
Goods
Items that can be bought and sold, like toys, clothes, or food.
Services
Services are actions or tasks performed to meet specific needs or provide assistance, often in exchange for payment.
Needs
Things vital for survival
Wants
not vital for survival
Redress
Redress means fixing a problem or making things right, like when someone gets compensation for something that went wrong.
Refund
A refund is the return of money to a customer when they are dissatisfied with a product or service or have made an overpayment.
Receipt
A receipt is a written record of a transaction, showing what was purchased and how much was paid.
Consumer responsibilities
Consumer responsibilities are what you should do as a buyer, like making smart choices and using products safely and responsibly.
Consumer rights
Consumer rights are what you deserve as a customer, like the right to safety and information when you buy things.