TOPIC 1: Consumer and financial decisions

Worksheet 1.1: Start up!

Student: ………………………………………………….………… Class: …….……………. Due date: …….……………….……

The answers for this worksheet can be found in Topic 1 Consumer and financial decisions as well as the
glossary provided for this topic.
1 Read the introductory text in subtopic 1.1 and fill in the blanks below.
Congratulations! You are about to begin the exciting subject called ‘commerce.’. This is not a totally new
subject to you. You have been practising Commerce ever since you made your first purchase many years
ago. That simple transaction launched you on life’s journey as a consumer and as an important part of the
commercial world.
Commerce examines how people earn their income, how they spend their money, and how and what
goods and services are produced. It also investigates the ways in which governments and the law influence
people’s commercial behavior.
Undertaking this Commerce course will give you a better understanding of how to make wise commercial
decisions.

2 Find a word in the glossary that has the same meaning as each of the following words.
a desires ……
b proposal …………………
c agreement – acceptance
d swindle …………………
e swap - barter
3 From the glossary terms, choose:
a a word that’s hard to spell – guarantee
b a Latin word – cheque
c a ‘slang’ or colloquial term – barter
d a word that rhymes with ‘funny’ - money
e a word that has the prefix e– - e-commerce
f three words that have another word inside them interest, price, budget
g an acronym (a word made up of the initial letters from a phrase) EFTPOS
h a word of one syllable – price
i a word of two syllables - commerce
j a word of five syllables starting with ‘m’ – manufacturer
4 Fill in the blanks in the following scenario using words or terms from the glossary word bank below.
manufacturer money mail order price comparison shopping
labour force commerce interest barter budget
Marco was hoping to borrow some money so he could buy new tyres for his bike. He had checked the
price at the local bike shop and was shocked to see how expensive they were.
If he bought them there, he would certainly blow his budget He decided to do some comparison shopping

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 Worksheet 1.1

in the hope of finding them cheaper somewhere else. Unfortunately, he could only find them cheaper
through a manufacturer who had a mail order business, and he wasn’t sure that his letter box would hold
two heavy tyres! Eventually he decided he could not afford the money on a loan and would have to enter
the labour force to earn the money. His only other alternative was
to barter his electric guitar in return for the tyres but, unfortunately, in 21st century this method was no
longer popular.

5 List the following words in alphabetical order:

price; consumer; cheque; retailer; offer; budget; profit; barter; wholesaler; interest; income; manufacturer
barter, budget, cheque, consumer, income, interest, manufacturer, offer, price, profit, retailer, wholesaler

6 Match the terms in the column on the left with their meaning in the column on the right.
offer the financial institution that provides cheque account facilities
scam items that you can see or touch
merchantable an illegal business practice
quality
drawee an electronic retailer
goods things done for you by others
unconscionable act a proposal
impulse buying an acceptable quality in keeping with a product’s price
caveat emptor any practice by a seller that is not reasonable and often illegal
e-tailer let the buyer beware
services buying something without giving much thought to whether you really
need it

7 Unscramble the following to reveal words or terms from the glossary list:
stwna euqhce sdene ypeae ltencieroc
fsrtaenr
tccanort seitrten srleowahel drstnoinceaoi vseiecrs
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8 Solve the mystery sentence by writing the correct letter into the corresponding number in the below
exercise.

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