business consultant case study

Question 1

What rights do consumers have under the Australian Consumer Law?

Answer 1

Consumer rights under the Australian Consumer law are guaranteed goods if the product is faulty is may be repaired, replaced or refunded if the item has a problem, is unsafe, significantly different from the sample or description or what is advertised, doesn’t do what it said it’ll do or what you asked for and can’t be easily fixed. Consumers have right to a good service being treated with respect, care and skill. Consumers have rights for protection having save products for the consumer. Another consumer right is fair trades, not misleading, unfair contract terms, manipulative actions and both sides needs to be fully aware of the contract and trade.

Question 2

What are economic theories?

Answer 2

all other things being equal if the - Demand - a good or service - income - it could be expected that the price of the good or service will - increase
all other things being equal if the - Demand - a good or service - decrease - it could be expected that the price of the good or service will - decrease
all other things being equal if the - Supply - a good or service - increase - it could be expected that the price of the good or service will - decrease
all other things being equal if the - Supply - a good or service - decrease - it could be expected that the price of the good or service will - increase

Question 3

Define income

Answer 3

wage or salary a person earns/amount of money a person earns