University:
Texas Tech University
Course:
PFP 3301 | Intro To Personal Finance
Academic year:

2023
Views:

250

Pages:

1
Author:

blankness4itf

PFP 3301 Chapter 7 Key Terms • • • • • • • • • Auction o A public sale in which property or items of merchandise are sold to the highest bidder Consignment Shop o Retail store where people sell items, and the owner of the shop gets a percentage of the sale Cost-Benefit Analysis o The process of quantifying costs and benefits of a decision Estate Sale o Type of yard sale with more items, usually the entire contents of a household Foreclosure o 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 Integrity o Having to do with a person's honesty and moral attributes Markup o The difference between the wholesale price and retail price Negotiate o To bargain for a lower price Walk-Away Power o The ability to walk away from a purchase when negotiating

Chapter 7 Key Terms - Personal Finance

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