The Consumer

Description

(Business) Flashcards on The Consumer, created by Ali Dragozova on 16/04/2014.
Ali Dragozova
Flashcards by Ali Dragozova, updated more than 1 year ago
Ali Dragozova
Created by Ali Dragozova over 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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