Year 9 yearly's Flashcards
(30 cards)
opportunity cost
What someone gives up to satisfy their needs and wants
Four types of resources
Labor, capital, enterprise and land
Consumer purchases
Durable and non-durable
Consumer protection
Act (2010) ACCC/ASIC
What are some examples of payment options?
Cash, Direct debit or EFTPOS
What is investing?
Investing is the allocation of resources, usually money, for the betterment of the future
What is saving?
Savings is the money saved for things like holidays, house/s or a car
What is borrowing?
Borrowing is the act when someone takes something for a period of time
What influence people’s investments?
Risks and goals
How can you minimize risk?
Diversification
What are goals?
Short-term investments have a low risk low return while a long-term investment have a high risk high return.
What are blue chip shares?
Safe and secure shares
What is a debenture?
a document issued to the company stating someone has lend money
Rate of return
The profit received by the investment usually written as a percentage
What is income expenditure?
An ongoing record of income earned money spent during the previous week
What are the key features of promoting and selling?
Customer service, convenience, value and quality
What is included in CSR?
Employees, Society, Environment and Users
What are the 4 P’s of marketing
price, product, promotion, place
What does price mean in the 4 P’s?
Amount a customer pays for goods or services
What does place mean in the 4 P’s?
availability of a product
What does product mean in the 4 P’s?
Offering by the company
What does promotion mean in the 4 P’s?
All communication and selling activities
What is the things on the left on the flow model?
Leakages
What is the things on the right on the flow model?
Injections
