21.6 SkillBuilder activity INVESTIGATING Go to the Consumer Affairs Victoria website. In the search bar, type ’Online shopping’ and click on the most
relevant results to help you answer the following questions. 1. What are two key risks when buying something online?
2. What protections or rights do you have if a product you bought online is faulty or doesn’t arrive? 3. What should you look out for to make sure a website is safe and reliable before making a purchase? 4. Find and describe one example or case study (if available) on the website that shows what can go wrong with an online purchase. Extension Question 5. How can understanding your consumer rights help you make better purchasing decisions in the future?
21.6
Exercise
Learning pathways LEVEL1 1, 2, 3, 5
LEVEL2
LEVEL3
4, 6, 8
7, 9, 10
REMEMBER AND UNDERSTAND 1. Identify a professional whom a consumer should consult when considering a major financial decision, such as buying a car. 2. Identify what ASX stands for. A. The Australian Stock Exchange B. The Australian Securities Exchange C. The Authority for Stock Exchange D. The Australian Securities Commission 3. Explain why it is important to be on the lookout for scams. 4. State the four functions of money. 5. State three factors that can affect a person’s consumer literacy. ANALYSE AND APPLY 6. Explain two decisions a consumer might make that will be improved by being financially literate. 7. Explain why interest is called the ‘cost of money’. 8. Explain what is meant by money as a standard of deferred payment. EVALUATE AND COMMUNICATE 9. ‘You need to a stockbroker to buy shares and make sound investment decisions.’ Discuss this statement. 10. Discuss whether owning shares is a good investment for most people (considering most people earn an average income). Answers and sample responses for this topic are available online.
620 Jacaranda Humanities Alive 8 Victorian Curriculum Third Edition
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