Year 9 Consumer and Financial Decisions

What is one advantage of using a credit card?

• It gives you instant access to money.

• It always offers lower interest rates than other payment methods.

• It is accepted everywhere without any fees.

• It automatically converts foreign currency without any charges.

What is Afterpay primarily used for?

• To pay bills automatically.

• To make purchases and pay for them later in instalments.

• To transfer money internationally.

• To earn rewards points on purchases.

Which of the following best defines "bait and switch" advertising?

• Advertising a product at a low price and then selling it at a higher price.

• Advertising a product that is not available and then promoting a more expensive alternative.

• Offering discounts only to specific customers.

• Using celebrity endorsements to sell products.

Which law protects Australian consumers against misleading advertising?

• The Competition and Consumer Act 2010

• The Fair Trading Act. 1987

• The Consumer Protection Act.

• The Advertising Standards Act.

Which of the following is an example of misleading advertising?

• A company advertises a product as "new and improved" without any changes.

• A store offers a discount on all items during a sale.

• A brand uses a celebrity to endorse their product.

• A business provides detailed product specifications.

What is a potential disadvantage of using a debit card?

• It can incur high interest rates.

• It may not be accepted for online purchases.

• Limited by the funds available

• It always requires a credit check.

Which organisation enforces the Australian Consumer Law?

• The Australian Competition and Consumer Commission (ACCC).

• The Australian Securities and Investments Commission (ASIC).

• The Fair Work Ombudsman.

• The Australian Taxation Office (ATO).

Which of the following is NOT an example of misleading advertising?

• A product is advertised as "limited edition" when it is not.

• A company claims their product is the "best" without evidence.

• A business accurately describes the features of their product.

• A service is advertised as "free" but has hidden charges.

Which of the following could be considered misleading advertising?

• A product is advertised with clear and accurate pricing.

• A service is promoted as "unlimited" but has restrictions.

• A company provides a detailed refund policy.

• A business uses testimonials from real customers.

What is an advantage of using a credit card for emergencies?

• It provides immediate access to funds.

• It eliminates the need for a savings account.

• It automatically pays off all debts.

• It offers free financial advice.