Commerce - Year 9

What does EFTPOS stand for?

• economic funds to position of sale

• economic funds transfer point of sale

• electronic funds transfer point of sale

• electronic funds to point of sale

Which statement is true concerning needs and wants in Commerce?

• Wants are necessary for survival

• Needs are not necessary for survival but things that we would like to have

• Wants are things we would like to have, needs are necessary for survival

• Wants are money received on a regular basis

Which of the following represents the traditional distribution chain for goods and services?

• Retailer > customer > wholesaler > manufacturer

• Wholesaler > manufacturer > retailer > customer

• Manufacturer > wholesaler > retailer > customer

• Manufacturer > retailer > wholesaler > customer

Which is an example of a non retail store?

• Convenience store

• Department store

• Supermarkets

• Vending machines

Who is the drawer on a cheque?

• The person at the bank that draws the money from one bank account to another

• The person who writes and signs the check

• The person who receives the money

• The bank

Which of the following payment methods involve interest costs for the buyer?

• Cash

• Cheque

• Lay-By

• Credit card

Before coins and notes were used, what was the system of exchange called?

• Bibs

• Bananas

• Barter

• Buter

Which of the following must be present for a contract to be considered legally enforceable?

• Offer, acceptance, consideration

• Offer, finance, consolidation

• Invitation, offer, acceptance

• Invitation, consideration, finance

What is the name of the law that protects consumers against unfair and illegal sale tactics in Australia?

• Competition and consumer act

• Competition and trading act

• Trade Practices act

• Fair Trading act

Which of the following is NOT a way that products and services are categorised

• Age

• Gender

• Where you are from

• Your favourite colour