Term Definition
Consumer Anyone who buysgoods or services
False economy Situation where a purchase which appears cheaper turns out in the long run to be more expensive.
Caveat emptor let the buyer beware
Credit note A document made out to the consumer for the value of the good returned. It allows them to purchase other goods from that shop equal in value to the goods returned.
Guarantee Is a promise by a manufacturer to repairor replace damaged goods for fee of chare within stated period of time.
Good Something tangiable. It can be seen. Usually consumed immediatley.
Service Something that is dfone for you, by a machine or person.
Merchantable quality This means that goods should be of reasonable quality. considering what was said about them, what they are supposed to do the price paid and how long they should last.
Remedy If a consumer purchases a good that is faulty or does not do what it is supposed to do tgey have a choice of remedy : credit note, replacement, refund.
NAC Provides information to any consumers about their rights.
Below cost sellling When certain shops sell popular items very cheaply eg. below cost price to attract consumers to their shop.
Loss leaders Products sold at below cost price are reffered to as loss leaders.
Ombuds man Representitave of people. They will investigate complaints by members of the public who have a problem with a certain organisation/shop.
Consumer association Ireland Protects consumers in Ireland.
Small Claims court SMC is used by consumers who are making claims for faulty or poor quality goods.
Advertising standards authority Ireland This orginasation investigates complaints from members of the public who find advertisements offensive.
Trade association Orginasation that represents particular traders, manufactures or retailers.
Food lables Provides information about products, eg. barracode, ingredients, manufacturer.
Bar codes A series of balck and white lines and numbers that provide information about product when scanned at till
Reciepts A written proof to the consumer that they have purchased an item.