Consumer and Financial Decisions Diagnostic Quiz

Commerce in the ​ (a)   and selling of ​ (b)   and services between individuals and ​ (c)   .

• buying
• goods
• businesses

A consumer is ​someone who purchases ​ (a)   and ​ (b)   to satisfy their ​ (c)   and ​ (d)   .

• goods
• services
• needs
• wants
• things
• cravings
• mood
• health

Financial decisions involve​ (a)   from an income.

Business decisions made should lead to ​ (b)   .

Employment decisions need to be made when you enter the ​ (c)   .

Legal decisions involve utilising the help of ​ (d)   to protect ourselves as consumers.

Environmental decisions should be focused on ​ (e)   for the benefit of the environment.

• budgeting
• profits
• labour force
• laws
• reducing and recycling

Organise these buying decisions into the right categories.

Groups:

(a) Impulse buying

,

(b) Comparison buying

• Buying a $15 magazine at the airport because of the catchy cover.

• Researching online for the best deal on a new TV before buying one.

• Buying a 500ml coke for $1 when 1L cost $1.50.

• Reading reviews and comparing prices of vacuum cleaners before making a purchase.

• Getting a $5 keychain at the checkout counter because it was a limited edition.

• Checking for sales on fruits in Coles vs Wollies

Match the stores with their corresponding type of retail outlet.

• Convenience 'corner' stores

• 
• Department stores

• 
• Discount variety stores

• 
• Supermarkets

• 
• Speciality stores

• 

Under the Competition and Consumer Act, an ​ (a)   act by a seller is any practice that is just not ​ (b)   , such as scams and rip-offs.

• unconscionable
• reasonable
• illegal
• deceptive
• fraudulent

Match the key factor affecting the consumer's decision.

• Service

• John buys a smartphone from the store offering the lowest price.

• Convinience

• Lisa buys skincare after seeing an influencer's glowing review.

• Marketing

• • Tom chooses a car dealership with 0% interest financing.

• Finance

• Sarah returns to a café where the staff always greet her warmly.

• Price

• Emma orders groceries online for same-day delivery.

Match the following common scams with their corresponding type.

• Pyramid schemes

• 
• Special prizes and offers

• 
• Referral selling

• Recieving a product in the mailbox with in the invoice for due payment.

• Unordered or insolicited goods

• A discount or commission to the purchaser for supplying names of more potential customers.

• False and misleading advertising

• You won a 'prize' but in order to claim it, you must purchase $50+ at the store.