Year 9 Commerce Yearly Exam Review Guide
2025/2026
1. Needs things that are required in order to live
2. Wants Desires that can be satis�ed by consuming a good or service
3. Scarcity Limited quantities of resources to meet unlimited wants
4. What is Com- The way in which society functions, how people make and spend money and how
merce? goods and services are produced.
5. Credit An arrangement to receive cash, goods, or services now and pay for them in the
future.
6. Cash Money in the form of bills or coins
7. Debit cards Plastic cards used to pay for purchases with funds you have in a bank account.
8. direct debit A withdrawal of cash directly from a bank account
9. Eftpos electronic funds transfer at point of sale
10. After pay Digital service where you buy now and pay later in 4 instalments made fortnightly.
11. False and mis- untrue claims of quality or e ectiveness about goods or services o ered for sale
leading advertis-
ing
12. Referral Selling an attempt - often illegal - by salespeople to get consumers to buy a product by of-
fering an incentive (usually a refund) for every person the consumer recommends
to them
13. Unordered or un- sending unordered goods and demanding payment for them
solicited goods
14. Special prizes told you have won a prize but when you go into the store you have to buy items to
and o�ers receive the goods.
1/8
, 15. Consumer Pro- measures to shield buyers of goods and services from unsafe products and unfair
tection or illegal sales practices
16. Consumer re- cancel or reform contracts, refund money, return property, pay for damages, or
dress public noti�cation
17. Contract Steps 1 Intent
2 O er
3 Timeframe
4 Obligations
5 Representations
6 Consideration
7 Arbitration
8 Acceptance
18. Superannuation regular payment made into a fund by an employee toward a future pension
19. Demand the quantity of a good or service that consumers are willing and able to buy
20. Supply The quantity of something that producers have available for sale
21. Depression A long-term economic state characterized by unemployment and low prices and
low levels of trade and investment
22. Recession a period of temporary economic decline during which trade and industrial activity
are reduced, generally identi�ed by a fall in GDP in two successive quarters.
23. safe products Directions for proper use are provided and products are tested by the manufac-
turer to ensure product quality
24. Accurate product Ingredients are clearly labelled on food containers.
information and
descriptions.
2/8
2025/2026
1. Needs things that are required in order to live
2. Wants Desires that can be satis�ed by consuming a good or service
3. Scarcity Limited quantities of resources to meet unlimited wants
4. What is Com- The way in which society functions, how people make and spend money and how
merce? goods and services are produced.
5. Credit An arrangement to receive cash, goods, or services now and pay for them in the
future.
6. Cash Money in the form of bills or coins
7. Debit cards Plastic cards used to pay for purchases with funds you have in a bank account.
8. direct debit A withdrawal of cash directly from a bank account
9. Eftpos electronic funds transfer at point of sale
10. After pay Digital service where you buy now and pay later in 4 instalments made fortnightly.
11. False and mis- untrue claims of quality or e ectiveness about goods or services o ered for sale
leading advertis-
ing
12. Referral Selling an attempt - often illegal - by salespeople to get consumers to buy a product by of-
fering an incentive (usually a refund) for every person the consumer recommends
to them
13. Unordered or un- sending unordered goods and demanding payment for them
solicited goods
14. Special prizes told you have won a prize but when you go into the store you have to buy items to
and o�ers receive the goods.
1/8
, 15. Consumer Pro- measures to shield buyers of goods and services from unsafe products and unfair
tection or illegal sales practices
16. Consumer re- cancel or reform contracts, refund money, return property, pay for damages, or
dress public noti�cation
17. Contract Steps 1 Intent
2 O er
3 Timeframe
4 Obligations
5 Representations
6 Consideration
7 Arbitration
8 Acceptance
18. Superannuation regular payment made into a fund by an employee toward a future pension
19. Demand the quantity of a good or service that consumers are willing and able to buy
20. Supply The quantity of something that producers have available for sale
21. Depression A long-term economic state characterized by unemployment and low prices and
low levels of trade and investment
22. Recession a period of temporary economic decline during which trade and industrial activity
are reduced, generally identi�ed by a fall in GDP in two successive quarters.
23. safe products Directions for proper use are provided and products are tested by the manufac-
turer to ensure product quality
24. Accurate product Ingredients are clearly labelled on food containers.
information and
descriptions.
2/8
