Consumer and Financial Decisions | Baamboozle - Baamboozle

A common scam is referral selling. What does this usually involve?

The consumer being offered a ‘special deal’ if they buy the product and provide names of potential customers.

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What is Disposable Income?

Any earnings after tax

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Since January 2011, a single consumer law has been in force across Australia. It ensures that when you buy products and services they come with automatic guarantees that they will work and do what you asked for. What is this law called?

Australian Consumer Law (ACL)

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Unscramble the following words and then use each one in a sentence to explain its meaning. tbai nda htwsci

Bait and switch - business advertises a product at a very low price so that it attracts attention and quickly runs out, forcing consideration of expensive items

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What does the law say to do if you are sent some goods which you did not order?

You should write to the company and explain where the items can be picked up. If the trader does not pick up the goods they become your property within a month

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seesaw

Swap points!

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gift

Win 20 points!

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gift

Win 20 points!

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banana

Go to last place!

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Something that you buy that is not tangible

Services

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What do the letters EFTPOS represent?

The letters EFTPOS stand for electronic funds transfer at point of sale.

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What is it called when you buy products, via catalogues, for delivery by mail

Mail Order

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What is a generic product?

Generic products are those that lack a distinct brand name.

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How are specialty stores able to exist in competition with large discount variety stores?

Specialty stores are able to exist because they provide expertise in the type of service or product they sell to the consumer.

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What does 'Caveat emptor' mean

Buyer beware

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boom

Lose 50 points!

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shark

Other team loses 25 points!

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gift

Win 5 points!

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thief

Give points!

Which is an advantage of a credit card? A. Easy to overspend. B. Convenient payment method for online transactions. C. Often more expensive than other forms of credit. D. Missing a monthly repayment will affect your credit rating.

They are a convenient payment method for online transactions.

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lifesaver

Give 25 points!

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star

Double points!

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fairy

Take points!

lifesaver

Give 15 points!

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What is the difference between a manufacturer, wholesaler and retailer?

A manufacturer produces (makes) a product. Large quantities (bulk) of a product are then bought by wholesalers, who sell the product to retailers, who sell it t

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