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Definition
| Looking for the same product in multiple stores to find the best price, or to find the best product. |
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| An agreement between a buyer and a seller. |
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| Something that you must have to live from day to day, like food, shelter, and clothing. |
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| The voluntary or involuntary removal of a dangerous product from the market. |
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| Something that can help you improve your day to day life, like a computer, car, or television. |
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Definition
| What you think the purchase is worth to you personally, taking into consideration how it will improve your life. |
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| Something that won't help you live from day to day, like jewelry, video games, and soda. Once you have met your primary and secondary needs, you can try to make room for some of these things in your budget. |
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Definition
| The seller's promise to fix or replace the product if something goes wrong. |
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Definition
| The price of an item is set by the process of competitive open bidding. |
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Definition
| Products sold by a third party, who receives a portion of the profits from the sale. |
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Definition
| The sale of all the belongings of a person; frequently after their death. |
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Definition
| A loan is cancelled and collected by seizing the property the loan was made on. |
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| Adhering to a moral code of honesty; always doing the right thing. |
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Definition
| The difference between the wholesale price and the retail price. |
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Definition
| Give and take; the process of bargaining between two parties who are trying to reach an agreement. |
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Definition
| Waiting for an event, such as a sale, or waiting for circumstances to be more favorable for a purchase. |
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Definition
| The willpower to walk away from a salesperson and/or a deal when the seller will not meet your terms. |
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Definition
| Both parties to a negotiation or sale are able to benefit from the transaction. |
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Term
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Definition
| The cost of a good sold by a wholesaler. This is somewhat higher than the amount the wholesaler paid to the company that produced the product. |
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Term
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Definition
| The price of a good or product when it is sold to the end-user for consumption. This is somewhat higher than the amount the retailer paid to the wholesaler for the product. |
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