What is the order of getting a product to the consumer?
From the manufacturer to Wholesaler to Retailer to Consumers
100
What are
-rip offs
- scams and
- unconscionable act
rip offs means to overcharge, scam is an illegal business practice and unconscionable act is any practice by a seller that is just not reasonable and often illegal
100
What are the 5 different organisations that provide assistance for consumers?
The state government, Ombudsman, Federal government, Independent organisation and the Media
100
What does cash and credit mean?
Cash is notes and coins, money, from the federal government.
Credit is a supply of money now in return for the promise of paying it back later.
200
What types of shopping is there?
Retailer, e-tailer and e-commerce
200
What's another way of buying goods?
Online shopping
200
What are the 3 elements of a contract
Offer, Acceptance and Consideration
200
What did people use before we had technology and paper money?
They bartered
200
What are the 4 ways you can/could pay by?
Direct debit, Cheque, Lay-by and Book-up
300
Do I really want this, Can I afford it and Is there something better
What are the 3 things you do before purchasing something?
300
What is so good about online shopping?
A bigger range of products, be done from inside your house, product may be cheaper, quick comparison and relatively quick quick delivery
300
a legally binding agreement
What is a contract
300
What are 4 different ways of electronic paying?
Visa paywave, master card paypass, smart phone apps and dial and pay
300
What important information do records hold?
- Which accounts have been paid
- Any outstanding accounts
- Total expenses
- Cash balance
- Date, amount and item purchased
400
What is impulse buying and what is comparison shopping?
Impulse buying is buying something without giving much thought as weather you need it or not
Comparison shopping is contacting a number of sellers to get the best price
400
What are the 5 different types of retail outlets?
Convenience corner store, specialty store, discount store and supermarkets
400
What are the 4 legal rights
Safe products, accurate product information and description, full disclosure of the terms of sale and consumer guraantees and warranties are honoured
400
What does Consumer guarantees and Acceptable quality mean?
Consumer guarantees means a set of rights and remedies for defective goods and services.
Acceptable quality means a product fit for purpose, acceptable in appearance and finish, free from defects, safe and durable
400
What is a spread sheet and what is a data base?
A spread sheet is usually done on excel, A spreadsheet could be used to calculate a personal budget showing monthly transactions.
Data base is a computerised database is like electronic folders and filing cabinets.
500
Name the 5 different decisions to make in life?
Financial, Business, Employment, Legal and Environmental
500
What are the key factors affecting consumer decisions?
Service, Price, Convenience, Marketing, Environment, Finance, Age and Gender
500
What protects the consumers if anything happens?
The Australian Consumer Law (ACL)
500
What are the 5 most common practices that companies use for false advertising?
Fine print
Before and after advertisement
Tests and surveys
Country of origin
Packaging
500
What are the 4 advantages of having a credit card
- avoid the necessity to carry around large amounts of cash
- are a convenient payment method for online and telephone purchases
- help you establish a good credit history
- offer cheap use of funds, provided you always pay your balance in full.