Consumer and Financial Decisions
The next best alternative foregone
Opportunity Cost
A legally binding document between individuals
Contract
Golden Arch
McDonald's
The process of keeping records of income and spending
Budgeting
What does the abbreviation GST stand for in Australia?
Goods and Services Tax
A lack of an available resource or good
Scarcity
Name a type of scam or rip-off learnt in commerce
Romance scam, false and misleading advertising, referral selling, unordered or unsolicited goods, special prizes and offers, get-rich-quick schemes, pyramid schemes
Car brand, one short of the Olympic rings
AUDI
Money spent which is typically unchanging
Fixed Expense
Which famous entrepreneur founded Microsoft?
Bill Gates
Marketing, Age, Social Media all of these things are....
Factors Influencing Choice
A fraudulent document designed to imitate a legitimate source
Phishing
Lowest prices are just the beginning
Bunnings
A sole trader or partnership unable to repay debt you might need to declare. An extra 300 points if you can name the similar process for companies.
Bankruptcy
Which video‑rental company famously rejected a chance to buy Netflix, only to go bankrupt years later?
Blockbuster
What is a good and what is a service? give an example of each.
Good - Tangible. Service - Intangible. Ensure the examples are correct
Monitor companies for fraudulent behaviour and prosecute where necessary
ASIC
Taste the rainbow
Skittles
The money gained from owning shares
Dividends
Which toy retailer collapsed in 2017 due to huge debts, despite being one of the world’s most iconic brands?
Toys "R" Us
Use of a preapproved loan with a fixed limit
Credit Card
The two primary consumer rights
Fit for Purpose
Acceptable Quality
Just do it
Nike
Money taken by your employer, for the government, for later in your life.
Superannuation
Which phone company dominated the mobile market in the 2000s but declined after failing to adapt to smartphones?
Nokia