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Year 8 Business & Civics Flashcards | StudBud
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Year 8 Business & Civics
Year 8 Business & Civics
54 terms
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A revision Quiz
Flashcards
54 cards
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Questions
54
Answers
1
How many states must vote YES for there to be a change in the constitution?
6
4
2
3
2
If something is long lasting, hard wearing and tough it is...
Fragile
Franchise
Weak
Durable
3
Ruben puts some money in his bank account is an example of which type of market?
Labour Market
Financial market
Stock Market
Retail Market
4
The constitution started in which year?
1899
2008
1905
1901
5
The only way to change the constitution is with a ...
constitution
double majority vote
message from Donald Trump
referendum
6
Best to sign an agreement if starting a partnership?
False
True
7
Axel just bought a phone that he has wanted for ages. He opens the package and discovers that it is a piece of toast.
That is just bad luck and eat the toast
He has no rights as he bought it on the internet
He should return it immediately for a full refund
Never buy a phone again
8
How many States are there in Australia?
5
8
7
6
9
Petith's Paint business is owned by 2 or more people but does not have shares is called a?
Sole Proprietor
Private Company
Public Company
Partnership
10
Leevi's Footballs Ltd is a_______?
Sole Trader
A good name for a Football Company
Public Company
Private Company
11
Carter Industries Australia Pty Ltd is a _________
Partnership
Private Company
Sole Proprietor
Public Company
12
More than 50% of the total population must vote YES for there to be a change in the constitution
True
False
13
Anyone can vote in a referendum
False
True
14
Thomas changes his mind after buying an Xbox and wants PS4. He can get a full refund?
False
True
15
Scarborough Corporation has...
Unlimited Liability
No Shareholders
Limited Liabilty
Only 2 Owners
16
The Australian Government has an impact on markets by:
Regulating minimum wages in the labour market
Determining prices in the retail market
None of these
Promoting capital growth in the stock market
17
A referendum is passed only when
more than half the population and 4 of the six states vote yes
less than half the population and 3 states vote yes
everyone votes no
There is a even amount voting no and yes
18
Hamish obtains a new job at the Cairns Aquarium as a diver is an example of which type of market?
Retail Market
Stock Market
Labour Market
Finance Market
19
Anyone can buy shares in a Private Company?
True
False
20
Sole Proprietor's have...
3 owners
Shares
Unlimited Liability
Limited Liability
21
The state government is responsible for the ........... in Australia
schools
garbage
airport
banks
22
Axel & Tyson's Bait Shop- What Type of Business is this?
Corporation Ltd
Sole Proprietor
Company Pty Ltd
Partnership
23
Brayden's Biscuits is an example of which type of business
Sole Proprietor
Partnership
Corporation Pty Ltd
Company
24
Zac's Beatbox Pty Ltd is a _______ ?
Public Company
Sole Proprietor
Private Company
Partnership
25
The local or municipal council are responsible for the ........ in Australia?
police
main roads
health services
town planning
26
Companies have unlimited liability?
True
False
27
The federal government is responsible for the ........ in Australia
defence force
railway
dog licenses
quarantine services
28
The three levels of government are...
Regional, Cairns & Canberra
International, Limited & QLD
Federal, State & Local
Farming, Retail & Trade
29
A trust is a form of business ownership where a trustee holds property or assets for the benefit of another person?
False
True
30
The constitution is...
a guidebook on how to run a country
a set of rules for how a nation is governed.
a new book about the government
a book about banks and shops
31
Logan's new TV had a 5 year warranty and breaks at 5 years and 1 day. He can get a full refund?
False
True
32
Which of these is not an example of a Franchise
KFC
McDonalds
Pizza Hut
Comeron's Cat Shop
33
A corporation is a business owned by shareholders?
False
True
34
Michael deposited $100 into his bank account with the Bendigo Bank and receives 2% per annum on his deposit. Market?
Labour Market
Financial Market
Retail Market
Stock Market
35
Taj's Got Talent Pty Ltd is a public company?
False
True
36
It is possible for one person to be both a consumer and producer?
True
False
37
Shared Workload is an advantage of a Partnership?
True
False
38
An Advantage of a Sole Proprietorship is that they?
Share the profits
Keep all the profits
Have Limited Liability
Have two people to share ideas
39
When a company or corporation goes bankrupt the shareholder is liable for the money owed?
True
False
40
ACCC stands for
Australian Cars Collect Competition
Australian Complaints and Coconuts
Australian Competition and Consumer Corporation
Australian Complaints and Consumer Competition
41
Leevi just bought a bike & wants to return it for a full refund. He can do this if?
He changes his mind
He finds a cheaper price in another shop
He crashes into Kynan and damages it
The bike is not fit for its usual purpose
42
Companies have Limited Liability?
False
True
43
The Northern Territory votes only count in the ..... part of a double majority vote
total population vote
state vote
Northern territory
both sections
44
Kynan buys a Avocado from Rusty's Market is an example of which type of market?
Stock Market
Financial Market
Fruit Market
Retail Market
45
These are the two sectors in the Circular Flow of Income Model
Revenue and Profit Sector
Household sector and Output sector
Business sector and Company Sector
Business and Household Sector
46
Logan buying shares in the Commonwealth Bank of Australia is an example of which type of Market?
Stock Market
Retail Market
Labour Market
Financial Market
47
legally owns part of a public listed corporation?
Franchise
Shareholder
Trustee
Sole Proprietor
48
Which of the following is NOT a guaranteed right of consumers in relation to goods purchased?
The item must be fit for purpose
Goods must be the same as the item shown to the customer
Goods must be provided at the lowest possible price
Goods must be acceptable quality
49
The labour market is centred around?
Selling Products at the Shopping Centre
The Buying and Selling of Human Skills & Experience
Banks Selling Stocks and Bonds
Buying and Selling of Shares
50
Anthony purchases a Socceroo's jersey online from eBay
Labour Market
Retail Market
Stock Market
Financial Market
51
Jayden's Surf Shop is what type of business?
Private Company
Sole Proprietor
Partnership
Company
52
Taj & Hamish can vote in a referendum
False
True
53
A business owned and operated by One person is a?
Company
Sole Proprietor
Corpration
Partnership
54
A cooling off period is when...
A period of time during which the purchaser may cancel a purchase
A statement that sais you cannot return a product
When you can returna purchase anytime you want
When you have to wash your product in ice water for a period of time
