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Part 1: Making a purchasing decision Scenario You need a new mobile phone plan that includes a phone. Search the internet for different plans that are available. Which one would you choose and why? OR Choose something you would like to buy. Search the internet to find different options. Which one would you choose and why?     Part 2: Making an informed consumer decision   Decision making tool…

Eileen’s spending is out of control! Can you help her? Eileen’s situation Eileen works at the local supermarket on Saturdays and earns $100 each week. She is responsible for paying all her bus fares, sporting fees, phone credit and things she wants. She needs to save for the school camp but never seems to have money left over at the end of each week. In fact, each week she borrows money to pay for her bus fares. She’s desperate to find a…

Use the relevant workbooks in the Interactive budget templates to complete either option 1 or 2 below (you can do both if time permits).   Option 1 Create your own budget by completing the first column of the budget workbook in the interactive budget template. You may need to substitute some categories or find the ‘best’ category to describe an expense. Track your income and spending over the next month. How well did you stay within your…

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One of the first things you do when you start a business is decide on how it will be structured. Businesses are set up with differing structures. What are the advantages and disadvantages of each structure? Why does it matter? Explore some of the activities associated with starting up a business.Different business structuresThere are different ways to set up a business, each with its benefits and drawbacks. The business structure chosen will…

There are advantages and disadvantages associated with different business structures. Read Business structures – Explainer and complete table 1 to identify the various features of each business structure. Table 1: Comparison of business structures Business Structures Sole trader Partnership Company Is the structure difficult to set up? yes no yes no yes no Is it…

Part 1: Deciding on the characteristics of entrepreneurs In groups, decide on the meaning of each quality listed in table 1. Underline the unfamiliar words and research their meaning. Identify those qualities you think are important to entrepreneurialism – highlight them. From these, select the top 10 entrepreneurial characteristics. Share your short list with another group and discuss any differences between each group’s list. Both groups…

  Linked activity: Entrepreneurs and record keeping (AC v9.0) Profit, loss, and record-keeping (AC v8.4)