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Consumer and Financial Decisions

  • Game Code: 1495052
  •  English    59     Public
    Year 9 Commerce
  •   Study   Slideshow
  • How is impulse buying different from comparison shopping?
    . How is impulse buying different from comparison shopping? If you buy on ‘impulse’, you complete your purchase on the spur of the moment without giving it much
  •  15
  • What is something that you would like but do not need for survival?
    Wants
  •  10
  • Something that you buy that is not tangible
    Services
  •  10
  • A piece of paper that you give instead of cash
    cheque
  •  15
  • Name the three sections/steps of a contract
    The offer, the acceptance and the consideration
  •  20
  • If you spend more than you earn you are in
    Debt
  •  10
  • What is the term for the process of contacting different sellers to find the best price for a product or service?
    Comparison Shopping
  •  10
  • Is this sign legal?
    No
  •  20
  • 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.
  •  25
  • What does 'Caveat emptor' mean
    Buyer beware
  •  20
  • One problem with bartering was the need for a ‘double coincidence of wants’. What does this mean?
  •  15
  • 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.
  •  5
  • 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)
  •  20
  • Which is an advantage of using a debit card to purchase goods and services? A. You use a financial institution’s money and are charged interest. B. You use your own money and pay no interest. C. You may spend up to your credit limit
    You use your own money and pay no interest
  •  10
  • In Australia, which of the following describes a compulsory savings scheme for retirement? A. A credit card B. A personal loan C. A term deposit D. A superannuation scheme
    A superannuation scheme
  •  15
  • What is it called when you buy products, via catalogues, for delivery by mail
    Mail Order
  •  10
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