He Flashcards
What is budgeting and give examples?
Your budget is the amount of money that you have to spend. For example money for mortgage, food and electricity need to be paid before luxuries like clothes and outings can be bought.
What is meant by a mortgage?
A mortgage is an amount of money borrowed from a bank or building society used to buy a house. This is repaid over a long period of time usually 25 years. Payments are made monthly.
What is rent?
Rent is paid to a landlord who owns the property. This can be paid weekly or monthly.
List the advantages and disadvantages of cash.
Advantages: It is easier to budget because you can see how much you have so less likely to overspend.
Cash means you can buy things when the Internet is down or when there is no electricity.
Disadvantages: cash can be dropped by mistake or stolen quite easily.
Cash can be forged quite easily.
List the advantages and disadvantages of cheque.
Advantages: if you pay by cheque you have a record and therefore proof of payment.
Cheques can be written to pay a particular person or company so they are less likely than cash to be stolen.
Disadvantages: someone can give someone a ‘bad’ cheque which means they don’t actually have the money to cover the cheque.
List the advantages and disadvantages of debit cards.
Advantages:
Money comes straight out of your account so you aren’t borrowing money.
Safer to carry than large amounts of cash as you can cancel a debit card if you lose it.
Disadvantages
Harder to keep track of how much money you have left in your account.
You can’t borrow any money on a debit card.
List the advantages and disadvantages of chip and pin.
Advantages: Chips are small put can hold a lot of data.
Information held on a chip is harder to clone than information held on a magnetic strip.
Disadvantages: people can forget their pin and then not access their money.
People who find out your pin can steal the card and use it themselves.
What is debt?
Debt is when you owe someone something - usually money.
What are the pros and cons of animal testing?
Pros: Animal testing has resulted in many life-saving cures and treatments.
Animals benefit from some animal testing that results in vaccines for animals.
Cons: animal testing is considered cruel and I humane by many people.
Animals are very different to humans and therefore what is safe to an animal does not guarantee it is safe for a human.
What is recycling?
Recycling is processing used materials into new useful products.
What causes pollution?
Pollution occurs when something contaminates the natural environment and changes the state of the environment. Examples of pollution include water, air, soil and noise.
What are food miles?
Food miles are how far the food travels to get from where it is grown to the shops where it is sold.
What is the difference between needs and wants?
Needs are what you need to stay alive for example, fresh air, food and somewhere to live.
Wants are what you would like to have but don’t need to survive, for example toys, luxury food items, large houses.
Write a discussion on the role of fair trade.
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List the roles of environmental health officers.
The Environmental Health Officer makes sure that people’s living and working environment is safe, healthy and hygienic.
Why is shopping online popular?
It saves time and the cost of driving to a shop.
It is convenient - you can see what many shops have to offer without leaving home.
Your purchases are delivered to your home.
How does religion affect food choice?
Some religions do not allow certain food to be eaten by their followers e.g. Muslims and Jews are not to eat pork.
Give 3 religions and foods they can / cannot eat.
Muslims - pork
Hindus - Beef
Jews - pork and hare
What is meant by impulse buying?
Buying something that you didn’t plan to buy and didn’t give much thought.
What a consumer?
A consumer is a person who buys goods or services for their own use.
What is organic food?
Food that is grown without chemicals.
Write down 5 household expenses?
Fuel Broadband House maintenance Food Mortgage
What is the difference between income and expenditure and give examples.
Income is the money that you receive such as your pay from your job or rent from a house that you lease out.
Expenditure is money that you give out for things that you need such as food or things that you want such as movie tickets.
What factors influence what we buy?
Cultural factors: what we value based on how friends and family influence us.
Religious factors: products that are desirable or undesirable in a religion.
Social facors: what we can afford to buy and what we see as valuable.
Age: different age groups often value different items.
How susceptible we are to advertising.
What is a consumer legislation?
Consumer legislation are the laws that help to protect consumers.
What is the Sale and Supply of Goods Act?
This act says that all products have to be of a ‘satisfactory quality’?
I buy straighteners and they don’t work? Which Act protects the consumer?
The sales and supply of goods act 1994
List 4 ways to be environmentally friendly?
Switch off lights in rooms that are not being used.
Keep the heating down as low as possible and wear jumpers.
Recycle as much as possible.
Buy food that has as little packaging as possible and uses recycled packaging where possible.
