q1.

about money characteristics of money

q2. different types of taxes (2 types)
q3. budget about someone, uni student saving for holiday
q4. credit cards and after pay scenario about someone buying something and must
choose if buy now pay later or credit card is better
q5. case study mortgages, deposit, interest rates, 6 errors find mistakes in case
study will have to say what the error is and what the correction should be, may need
to mention lawyer/ conveyancer
q6. 2 times calculate tax, get table for working out and another for the tax bracket
and amount of tax

Question 1
- Portability: money is easy to carry around
- Durability: material that can last long, withstand pressure
- Divisibility: can be divided into smaller parts, $50 → $10 → $5 → $2
- Scarce: government doesn't make much so it has a value to it
- Recognizable: should be identifiable by appearance or characteristics

Question 2
- GST: goods and services tax
- Income tax: applied to an individual's taxable income and is paid on all forms of
income
- Direct and indirect

Mortgages
A mortgage is a loan you get from a bank or lender to buy a house. You pay back the loan
over time, usually many years, along with interest. If you can't pay, the bank can take your
house.
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