Economics Chapter 5

store that carries a limited number of brands and items in large quantities and is less expensive that supermarkets

store open 16 to 24 hours a day, carrying a limited selection of relatively higher-priced items

lower-priced store-brand products carried by some supermarket chains and club warehouse chains

ability of an item to last a long time

amount of use a person gets from an item over time and the value a person places on this use

fees involved in arranging for a mortgage or in transferring ownership of property

fees paid to a lender and computed as a percentage of load

long-term agreement describing the terms under which property is rented

money a renter lets an owner hold in case the rent is not paid or an apartment is damaged

licensing fee, usually annual, paid to state for the right to use a car

insurance that pays for bodily injury and property damage