Skip to content Skip to main menu
WhartonLogo for The Wharton School
  • Faculty
  • Youth Program
  • Undergrad
  • MBA
  • EMBA
  • PhD
  • Exec Ed
  • Wharton Online
  • Alumni
  • Knowledge at Wharton
Search Wharton
Wharton Global Youth Program
Menu
  • On-Campus
    • Essentials of Finance
    • Essentials of Entrepreneurship
    • Leadership in the Business World
    • Management & Technology Summer Institute
    • Moneyball Academy
    • Data Science Academy
    • Product Design Academy
    • Application Information
    • Costs & Aid
    • The Residential Experience
    • On Campus FAQs
  • Online
    • Future of the Business World
    • Essentials of Leadership
    • Sports Business Academy
    • Understanding Your Money
    • Moneyball Academy: Training Camp
    • Moneyball Academy: Training Camp FLEX
    • Application Information
    • Costs & Aid
    • The Online Experience
    • Online Programs FAQs
    • Wharton Global Youth Meetup (GYM)
  • Location-based
    • San Francisco, CA: Innovation and Startup Culture
    • Cambridge, UK: Strategy and International Management
    • Application Information
    • Costs & Aid
  • Pre-baccalaureate
    • FNCE 0001: Introduction to Financial Markets and the Global Economy
    • FNCE 0002: Essentials of Personal Finance
    • STAT 0001: Introduction to Statistics and Data Science
    • STAT 0002: Introduction to Statistics and Data Science
    • HCMG 0001: Introduction to Health Economics
    • BEPP 0001: Business Economics and Public Policy
    • OIDD 0001: Prescriptive Analytics
    • MKTG 0001: Viral Marketing
    • MKTG 0002: Consumer Behavior
    • MGMT 0001: Principles of Management
    • MGMT 0004: Work, Power and Inequality
    • Courses by Session
    • Admissions & Tuition
    • Admitted Student Resources
    • Pre-baccalaureate Program FAQs
    • The Embedded Pre-baccalaureate Program
  • Investment Competition
    • Want to Compete?
      • Register Now
    • About the Competition
      • Competition Dates and Timeline
      • Deliverables
      • Team Roles and Responsibilities
      • Case Study
      • Rules
      • Placing Trades
      • Stock & ETF List
      • Judging and Evaluation
      • FAQs
    • Competitor Resources
      • Learning Resources
      • Meet the Experts
    • More Info
      • Previous Winners and Case Studies
      • Contact Us
      • Privacy Policy
  • News & Articles
    • Business Journal Articles
    • Global Youth News
    • Glossary
    • Comment & Win Contest
    • Future of the Business World Podcast
    • Commenting Policy
  • For Educators
    • Teaching With Our Content
    • Explore Business
      • Environmental, Social & Governance
      • The Business of Race
        • Race and the Entrepreneur
        • Race and Corporate Power
        • Race and The Selling of America
      • Analytics
    • Essential Educator Blog
    • Educator Toolkit
    • Lesson Plans
    • Entrepreneurship Game
  • About
Skip NavigationMenu
  • On-Campus

    • On-Campus Programs »

      • Programs
      • Essentials Finance IconEssentials of Finance
      • Essentials Of Entrepreneurship IconEssentials of Entrepreneurship
      • Leadership Business World IconLeadership in the Business World
      • MT Summer IconManagement & Technology Summer Institute
      •  
      • Moneyball IconMoneyball Academy
      • Data Science Academy IconData Science Academy
      • Product Design IconProduct Design Academy
      • Related Information
      • Application Information
      • Costs & Aid
      • The Residential Experience
      • On Campus FAQs
  • Online

    • Online Programs »

      • Programs
      • Future Business World IconFuture of the Business World
      • Leadership Business World IconEssentials of Leadership
      • Sports Business Academy IconSports Business Academy
      •  
      • UnderstandingyourmoneyiconUnderstanding Your Money
      • Moneyball Training IconMoneyball Academy: Training Camp
      • Moneyball Flex IconMoneyball Academy: Training Camp FLEX
      • Related Information
      • Application Information
      • Costs & Aid
      • The Online Experience
      • Online Programs FAQs
      • Wharton Global Youth Meetup (GYM)
  • Location-based

    • Location-based Programs »

      • Programs
      • Essentials Of InnovationSan Francisco, CA: Innovation and Startup Culture
      • Cambridge Course IconCambridge, UK: Strategy and International Management
      •  
      • Related Information
      • Application Information
      • Costs & Aid
  • Pre-baccalaureate

    • Pre-baccalaureate Program »

      • Courses
      • FNCE0001 IconFNCE 0001: Introduction to Financial Markets and the Global Economy
      • FNCE0002 IconFNCE 0002: Essentials of Personal Finance
      • STAT0001 IconSTAT 0001: Introduction to Statistics and Data Science
      • STAT0002 Course IconSTAT 0002: Introduction to Statistics and Data Science
      • HCMG0001 IconHCMG 0001: Introduction to Health Economics
      • BEPP 0001BEPP 0001: Business Economics and Public Policy
      •  
      • OIDD0001 IconOIDD 0001: Prescriptive Analytics
      • MKTG0001 IconMKTG 0001: Viral Marketing
      • MKTG0002 IconMKTG 0002: Consumer Behavior
      • MGMT 0001MGMT 0001: Principles of Management
      • MGMT0004 IconMGMT 0004: Work, Power and Inequality
      • Program Information
      • Courses by Session
      • Admissions & Tuition
      • Admitted Student Resources
      • Pre-baccalaureate Program FAQs
      • The Embedded Pre-baccalaureate Program
  • Investment Competition

    • Investment Competition '23 - '24 »

      • Want to Compete?
        • Register Now
      • About the Competition
        • Competition Dates and Timeline
        • Deliverables
        • Team Roles and Responsibilities
        • Case Study
        • Rules
        • Placing Trades
        • Stock & ETF List
        • Judging and Evaluation
        • FAQs
      • Competitor Resources
        • Learning Resources
        • Meet the Experts
      • More Info
        • Previous Winners and Case Studies
        • Contact Us
        • Privacy Policy
  • News & Articles

    • News & Articles »

      • Business Journal Articles
        • Valeria Nikitina XRUZw XUEKM UnsplashHow Will AI and Hybrid Work Change Your Job?June 2, 2023
        • Public Relations StockImageA Competitive Debater and ‘Big Talker’ Finds Her Place in PRMay 23, 2023
        • Denys Nevozhai Z0nVqfrOqWA UnsplashStrategic Marketing: Brands Consider the Power of PurposeMay 12, 2023
        • Future Of WorkCollaborating and Thriving in the Workplace of the FutureMay 3, 2023
        • View All Articles
      • Global Youth News
        • SSI3Wharton Investment Competition: Tales from the 2023 TeamsJune 6, 2023
        • Learning DayLearning Day 2023 Is a Big Hit with Investment Competitors May 2, 2023
        • 3Our 2023 Investment Competition Global Finale Ends in Sweet Victory for DMV’s FinestApril 26, 2023
        • DSC1395Celebrating the Top 10 Teams in the 2022-2023 Wharton Global High School Investment CompetitionMarch 23, 2023
        • View All News
      • Glossary
        • The Wharton Global Youth Program has created a comprehensive video glossary of hundreds of business-related terms. Puzzled by the concept of "operating income" or need some help with your "competitive advantage?" Click on the linked word in the text in any article!
          • 401K
          • Accounts Receivable
          • Acquisition

        • Full Glossary »

      • Comment & Win Contest
        • The Wharton Global Youth Program Comment & Win is an annual contest that runs from June to August and is designed to encourage high school-age students to discover Global Youth stories, podcasts and videos, and to develop stronger reflective and persuasive writing skills. Four biweekly rounds of competition include a new theme introduced each round.
      • Future of the Business World Podcast
        • Listen to inspiring youth voices! Each month Wharton Global Youth interviews a high school student innovator from around the world, discussing strategies and concepts that touch on every area of business and finance and explore the world economy. Each podcast episode runs around 20 minutes, ends with a fun lightning round, and is accompanied by a written transcript and conversation starters.
      • Commenting Policy
        • The Wharton Global Youth Program online community encourages open dialogue from our followers, readers and learners, through commenting on our Global Youth website articles and podcast transcripts and on our various social media platforms, including LinkedIn, Facebook, Instagram, Twitter and YouTube.

          While we value all opinions and viewpoints, we also reserve the right to monitor, censor and unpublish posted comments throughout the Global Youth online community if they do not align with the purpose of our platform as a safe, educational space for pre-college learners, or they violate our code of ethics and conduct.

          Learn More

  • For Educators

    • For Educators »

      • Teaching With Our Content
        • Here are some ways we encourage educators to use our content to inform students about the latest business and finance trends, and to spark curiosity, conversation and innovative thinking.

          Learn How

      • Explore Business
        • Our Explore Business mini-sites are gateways to conversations, readings and activities that inspire high school students to think more deeply about issues affecting business and society. Dig into these Wharton-powered learning opportunities wherever and whenever you want to explore timely and compelling topics.
        • Environmental, Social & GovernanceWords ESG On A Wood Block And Future Environmental Conservation And Sustainable ESG Modernization Development By Using The Technology Of Renewable Resources To Reduce Pollution And Carbon Emission.
        • The Business of RaceEdited Wharton Ryder Data Sceince Hackathon 2018 23 299×299
        • AnalyticsBusiness Analytics Icon
      • Essential Educator Blog
        • The Essential Educator is a monthly blog written for high school educators by high school educators. It shares best practices for supporting and engaging students through business education.

          Read Our Blog

      • Educator Toolkit
        • The Educator's Toolkit is a collection of articles, lesson plans, video glossary terms, hands-on learning exercises and other resources to provide ideas and materials to use with your students, while at the same time helping you discover the various ways the Wharotn Global Youth Program is creating relevant content for your classroom.
        • The Future of Workfuture-of-work
        • Sustainability and RecommerceJanuary-Toolkit-2020-Sustainability-and-Recommerce
        • Technology and Privacytechnology-and-privacy
        • View All Toolkit Articles
      • Lesson Plans

        • Browse the lesson plans, organized by National Business Education Association standard subject areas.

          • Accounting
          • Career Development
          • Communication
          • Computation
          • Economics
          • Entrepreneurship
          • Information Technology
          • International Business
          • Management
          • Marketing
          • Personal Finance
      • Entrepreneurship Game
        • Wharton Global Youth is excited to offer high school educators access to a unique business simulation created by Wharton Interactive. The Entrepreneurship Game is a complete entrepreneurship educational experience that is impactful, engaging and easy to run. Give your students the chance to run a high-growth startup.

          Learn More

  • About

Warranty

/wp-content/uploads/glossary_videos/Warranty.mp4

A warranty is a contractual promise to behave a certain way in the future. Alice decided to pay an extra $50 for her laptop contract to include a warranty that any broken parts from accidental damage will be replaced, free of charge.

October 10, 2013

Stay Updated

Please sign me up for program updates and other learning opportunities.

Additional Links
    Wharton Global Youth Program
    • On-Campus
    • Online
    • Location-based
    • Pre-baccalaureate
    • Investment Competition
    • News & Articles
    • For Educators
    • About
  • Programs
  • Undergraduate
  • MBA
  • EMBA
  • Doctorate
  • Executive Education
  • Wharton Online
  • Locations
  • Philadelphia
  • San Francisco
  • Beijing
  • The Power of Wharton
  • Global Influence
  • Analytics
  • Entrepreneurship & Innovation
  • Featured
  • Give to Wharton
  • Alumni
  • Knowledge@Wharton
  • Recruiters & Corporations
  • Wharton
  • Faculty
  • About Us
  • Research Centers
  • Departments
  • Resources
  • Contact Us
  • News
  • Faculty & Staff
The University of Pennsylvania
    Support Wharton
    ©2023 The Wharton School,  The University of Pennsylvania  |  Wharton Global Youth Program  |  Privacy Policy  |  Report Accessibility Issues and Get Help