Consumer - Anyone who uses goods or services or buys goods & services., Better Business Bureau (BBB) - A non-profit organization sponsored by local business. It offers a variety of consumer services at no charge to help with consumer complaints., Food & Drug Administration (FDA) - A federal agency that was formed to set and enforce safety standards for food, drugs & cosmetics., Consumer Product Safety Commission (CPSC) - A federal agency that was formed to set and enforce safety standards of products such as household appliances, toys and tools., Federal Trade commission (FTC) - A federal agency which was formed to protect consumers against false advertising, illegal sales schemes, and all unfair trade practices., Bureau of Consumer Protection - A Federal agency which provides state and local consumer protection offices which help answer consumer questions or problems., Warrenty - A statement made by manufacturer or seller of a products or service concerning the responsibility for quality, characteristics, and performance of the product or service., Unfair Trade Practice - Any business practice which is considered unethical or illegal, Supply - The amount of goods & services available for sale at various prices at stated times., Second - A product that does not meet the standard requirements., Service - Work performed to meet the needs of those buying the work, such as repair work, personal grooming services, house cleaning, and transportation., Monopoly - A market situation in which only one organization produces the entire output of an industry or sells product or service for which there is no substitute., Needs - The basic item a person must have to survive. , Impulse Buying - Unplanned consumer purchases, usually done in the spur of the moment usually involving items on display or at reduced prices., Comparison Shopping - Looking at different brands & models for the same item in various store to compare, price, quality, features and store services before buying.,
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Consumer Vocab
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