7 BST review 1

Money is

• only found in Australia

• always put in to a bank

• made of paper

• a medium of exchange

Before the introduction of money, how was business conducted throughout the world?

• stealing

• credit card

• bartering

• business wasn't around

In business, what is a NEED?

• Something that exists but doesn't last forever

• Something that isn't essential to our survival but would be nice to have

• Something that is essential to our survival

• Something that you can touch

In business, what is a WANT?

• Something that is essential to our survival

• Something that exists only online

• Something that you can touch

• Something that isn't essential to our survival but would be nice to have

Click on all the GOODS below. (Hint: There may be more than one answer!)

• Car

• Getting a Haircut

• Listening to music

• iPad

Click on all the SERVICES below. (Hint: There may be more than one answer!)

• Pen

• Desk

• Doctor helping you

• concert ushers

Click on the definition of a CONSUMER-

• Someone who buys something

• Someone who makes or grows something for others to buy

• Someone who sleeps in

• Someone who needs to go on a diet

What is 1 major problem that could be encountered with bartering?

• You need money

• It might take too long to get what you want

• You may not get cheese

• It's too easy

ECB stands for

• excellent consumer bartering

• economics and business

• everyday

  consumer business

• estabished class brand

What is INCOME?

• Money that is being spent or the amount of money spent

• A compulsory contribution to state funds

• Money received on a regular basis, for work or through investments

• When you borrow money from someone else with the intention of paying it back