Chapter 7 Review: Bargain Shopping

Having to do with a person's honesty and moral attributes

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

The ability to walk away from a purchase when negotiating

Process by which the holder of 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 public sale in which property or items of merchandise are sold to the highest bidder

The process of quantifying costs and benefits of a decision

The difference between the wholesale price and retail price

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

To bargain for a lower price

Using cash gives you more bargaining power than credit

• True

• False