Search Header Logo

Small Business and Economics - Easy

Authored by Charles Moffatt

Business

10th Grade

20 Questions

Used 5+ times

Small Business and Economics - Easy
AI

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

    Content View

    Student View

1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

The term EFTPOS stands for:

A. Effective free trade at point of sale
B. Electronic funds trade at point of sale
C. Electronic funds transfer at point of sale
D. Electronic funds transfer in protection of sales

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Money has many functions in society – select the INCORRECT statement below concerning functions of money:

A. Money is a measure of wealth.
B. Money allows all people to share equally in the world’s resources.
C. Money enables people to assign a specific value to all goods and services, making price comparisons easier.
D. Money is widely accepted and easily divided.

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

The term PIN, in relation to bank cards, stands for:

A. Personal identification number
B. Primary identification number
C. Personal information number
D. Primary information number

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

The main difference between a credit card and a debit card is that:

A. The interest rate you pay for purchases is much higher on a debit card
B. A debit card allows you to borrow money to fund your purchases
C. With a debit card you are accessing your own funds
D. With a credit card you are accessing your own funds

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Gift cards are often seen as a win for both consumers and retailers. Select the one INCORRECT fact or statistic concerning gift cards from the following:

A. It is estimated that in 2018 there will be around $160 billion dollars worth of gift cards sold.
B. Consumers are likely to spend around 40 per cent more than the value of the gift card when they redeem it.
C. Gift cards provide flexibility to the recipient to buy what they really want.
D. It is estimated that over 80 per cent of gift cards are never redeemed or lost before they expire.

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Which of the following is NOT a feature of a credit card:

A. Credit cards generally allow access to unlimited credit.
B. In Australia, if a customer uses the tap and go feature when using a credit card and the amount is less than $100, a PIN will not be needed.
C. Credit card statements will set out the minimum payment required for that month.
D. The annual interest payable on a credit card debt can vary from approximately 8 per cent per annum to just over 20 per cent per annum.

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Which of the following payment methods is not a recent example of technology changing the way we pay?

A. In-app purchasing
B. Smart cards
C. e-TAGs
D. Cheques

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?