Year 9 yearly's

Question 1

opportunity cost

Answer 1

What someone gives up to satisfy their needs and wants

Question 2

Four types of resources

Answer 2

Labor, capital, enterprise and land

Question 3

Consumer purchases

Answer 3

Durable and non-durable

Question 4

Consumer protection

Answer 4

Act (2010) ACCC/ASIC

Question 5

What are some examples of payment options?

Answer 5

Cash, Direct debit or EFTPOS

Question 6

What is investing?

Answer 6

Investing is the allocation of resources, usually money, for the betterment of the future

Question 7

What is saving?

Answer 7

Savings is the money saved for things like holidays, house/s or a car

Question 8

What is borrowing?

Answer 8

Borrowing is the act when someone takes something for a period of time

Question 9

What influence people’s investments?

Answer 9

Risks and goals

Question 10

How can you minimize risk?

Answer 10

Diversification

Question 11

What are goals?

Answer 11

Short-term investments have a low risk low return while a long-term investment have a high risk high return.

Question 12

What are blue chip shares?

Answer 12

Safe and secure shares

Question 13

What is a debenture?

Answer 13

a document issued to the company stating someone has lend money

Question 14

Rate of return

Answer 14

The profit received by the investment usually written as a percentage

Question 15

What is income expenditure?

Answer 15

An ongoing record of income earned money spent during the previous week

Question 16

What are the key features of promoting and selling?

Answer 16

Customer service, convenience, value and quality

Question 17

What is included in CSR?

Answer 17

Employees, Society, Environment and Users

Question 18

What are the 4 P’s of marketing

Answer 18

price, product, promotion, place

Question 19

What does price mean in the 4 P’s?

Answer 19

Amount a customer pays for goods or services

Question 20

What does place mean in the 4 P’s?

Answer 20

availability of a product

Question 21

What does product mean in the 4 P’s?

Answer 21

Offering by the company

Question 22

What does promotion mean in the 4 P’s?

Answer 22

All communication and selling activities

Question 23

What is the things on the left on the flow model?

Answer 23

Leakages

Question 24

What is the things on the right on the flow model?

Answer 24

Injections

Question 25

Which way does decrease demand go?

Answer 25

Left

Question 26

Which way does increase demand go?

Answer 26

Right

Question 27

Which way does increase supply go?

Answer 27

Left

Question 28

Which way does decrees supply go?

Answer 28

Right

Question 29

What is the ‘x’ axis of the price mechanism chat?

Answer 29

Quantity

Question 30

What is the ‘y’ axis of the price mechanism chat?

Answer 30

Price