chapter 5

There are many types of markets because there are many goods and services to trade.

• True

• False

Market size refers to the number of sellers for a product or service.

• True

• False

A coupon is a certificate that grants a discount to the customer.

• True

• False

A rebate is usually a smaller discount than a coupon.

• True

• False

A payment card is any card used to make a purchase in place of cash.

• True

• False

A credit limit is the dollar amount you can owe on your charge account.

• True

• False

With an installment plan, you pay for your purchase in small amounts over time.

• True

• False

Online bill pay is more expensive than payment by mail.

• True

• False

Unit pricing is helpful when determining which brand of product to buy.

• True

• False

The purpose of a contract is to guarantee that the buyer pays a fair price.

• True

• False