Year 6 Economics Formative Quiz

What is a consumer (for business)?

• a person who purchases goods and services for personal use.

• A person that eats something.

Hey there, savvy spenders! Can you spot two examples of 'False Economy' from the list below? Imagine Ethan and Hannah are trying to save money, but they might be falling into a trap. Help them out!

• Cash

• AfterPay

• Coupon

• EFTPOS

True or false:

A data analyst is a person who analyses data for businesses; this helps them make decisions about their products and how to sell them for more profit.

• True

• False

Imagine you're exploring a bustling marketplace. What's your main mission as a consumer in this vibrant scene?

• To produce goods and services.

• To purchase and use goods and services.

Imagine Olivia is on a shopping adventure! Which of the following best describes her decision-making process?

• Analysing market trends and setting prices.

• Evaluating product options and making purchases.

Imagine you're a detective like Lily, trying to solve the mystery of why some businesses thrive while others don't. How does consumer behavior play a role in this business puzzle?

• It determines the demand for products and services.

• It has no impact on business operations.

Imagine you're Ryan, and you're about to buy the coolest gadget on the market. What factors would sway your decision?

• Brand reputation and price.

• Weather conditions and time of day.

Hey Year 6, why do you think understanding consumer behaviour is like having a secret superpower for marketers?

• It helps in creating effective marketing strategies.

• It is not relevant to marketing efforts.

Eman and Elias are on a quest to identify which business is NOT considered a service. Can you help them out?

• Dogwash

• Hairdresser

• Petrol Station

• Electrician

Hey there, future world-changers! Join Maya, Noah, and Henry on a quest to identify life's essentials. Which of these options are true 'needs' for everyone?

• designer clothing

• clean drinking water

• education

• a Ferrari

• the internet