Purchase facts for kids

Kids Encyclopedia Facts
(Redirected from Purchased)
Acquisition Process
Model of the Acquisition Process.

Purchasing is the buying of goods or services. An item that has been bought is called a purchase. The opposite of a purchase is a sale. In common usage, the shorter word "buy" is typically used when shopping, rather than the word "purchase".

However, the word has been used in many major historical terms, including:

  • the Louisiana Purchase (of 1803), which greatly increased the size of the U.S.;
  • the Purchase System in the British Army;
  • the Ashbourne Irish Land Purchase Act, or similar laws;
  • a Purchase and Sale Agreement, as a contract between a buyer and seller of land (real estate).

The word purchase is often used in contracts with "acquisition", as in the term "Acquisitions and Mergers" (A&M) in legal agreements made between large companies. Those contracts typically state than a company was purchased by another company.


Purchase Facts for Kids. Kiddle Encyclopedia.