The Consumer Flashcards
What six things would a good consumer do ?
The six things a good consumer would do are :
- try to buy goods that are good value and good quality
- check the prices in a number if shops(retailers) before deciding where to buy
- keep their receipt in a safe place
- know their legal rights
- know who to go to for help if they have a problem
- avoid impulse buying
What is a consumer?
A consumer is anyone buys goods and services for their own use.
What is a brand ?
A brand is the identity of a particular product. It usually refers to the manufacturer of the product.
Give an example of a brand name?
Hollister or Adidas
Another characteristic of a good consumer is that they avoid false economies. What is a false economy?
A false economy is a situation where we buy something that costs less than other brands or seems o seems to be better value but turns out to be more expensive in the long run.
Give an example of a false economy ?
Buying a cheap battery that costs 50c and only lasts for 3 hours instead of a better brand off battery that costs €1 and lasts for 10 hours. Or deciding not to have a heating system serviced each year at a cost of €100 and as a result having to replace the boiler after three years at a cost of €2,000
Lost all the rules from the Sale of Goods and Supply of Services Act 1980
All goods must be:
1) of merchantable quality i.e. Good quality eg. An Apple should not be rotten on the inside.
2) fit for their purpose i.e what they are supposed to eg. A lawn mower must be able to cut grass.
3) as described- i.e goods must be the same as described by the sales person/brochure.
4) match the sample- i.e wallpaper must match the sample shown.
5) services must be:
(i) the person supplying the service must have the necessary skill and qualification eg. A pilot must be qualified to fly.
(ii) the person must carry out the service with due care and diligence.
(iii) any materials used as part of the service must be of merchantable quality.
What is ‘caveat emptor’ ?
Caveat emptor is a rule that consumers lived by it means ‘let the buyer beware’.
What is a bar code ?
A bar code is a small rectangle containing black and white lines and figures found on the packaging of most products. The bar code contains information such as product name, price, weight, origin etc.
What is a receipt ?
A receipt is written proof to the consumer that they have purchased and paid for a good and service.
What is bellow cost selling ?
Below cost selling is when certain shops sell popular products very cheap-i.e below their cost price ,in order to attract people into their shop.
