Ch. 7 Flashcards Preview

B&P Finance > Ch. 7 > Flashcards

Flashcards in Ch. 7 Deck (9)
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1
Q

Retail store where people sell items and the owner of the shop gets a percentage of the sale

A

Consignment shop

2
Q

The ability to walk away from a purchase when negotiating

A

Walk away power

3
Q

Process by which the holder of a mortgage sells the property of a homeowner who has not made interest and/or principal payments on time as stipulated in the mortgage contract

A

Foreclosure

4
Q

A public sale in which property or items of merchandise are sold to the highest bidder

A

Auction

5
Q

The process of quantifying costs and benefits of a decision

A

Cost benefit analysis

6
Q

The difference between the wholesale price and retail price

A

Mark up

7
Q

Type of yard sale with more items, usually the entire contents of a household

A

Estate sale

8
Q

To bargain for a lower price

A

Negotiate

9
Q

Having to do with a power honesty and moral attributes

A

Integrity