Business Studies Year 9 Exam Revision

Opportunity cost

What are our Means

Define Scarcity

Advantages of Money (5)

The diversity of business (6)

Sole trader advantages and disadvantages

Partnership advantages and disadvantages

Company advantages and disadvantages

Business objectives

Income: Wages

Income: Salary

How Fees are earnt

How Commission is earnt

What is Rent

What is a Dividend

What is a Royalty

What is a Profit

What is Interest

Admission fees

Hire fees

What is the CGA

What is the FTA

If something goes wrong, under CGA, you can ask for

Goods the CGA doesn't cover:

Who is the person who lodged the claim at a Disputes Tribunal

Who is the party being challenged at a Disputes Tribunal

Rights of a seller

Obligations of a seller

What is a Law

Define Consumer

Define a Contract

How a reasonable price would be determined for a service

A valid contract must

If all 6 elements aren't present in a contract...

A budget must...

If a monthly budget is in an unfavourable situation, you could

Define Break-even

A Statement of Affairs must include...

What is cash buying

Examples of cash buying

What is credit buying

Examples of credit buying

Advantages of credit buying (3)

Consequences of borrowing with credit (bad 4)

Overdraft

Hire purchase

Mortgage

Store cards

Define Saving using economic terms

Opportunity cost of saving

Factors that influence saving

Reasons people save (6)

Disputes Tribunal

Cases that can't be taken to the Tribunal (8)

Maximum amount the Tribunal can order someone to pay

Reasons for preparing a budget (4)

All consumer products must (4)

All consumer services must (4)

Examples of prohibited trading conduct (5)

Define Caveat emptor

Who is the Referee