Table of Contents

Preface vi About the authors vi Syllabus table vii How to use this book viii About eBookPLUS x Acknowledgements xi CORE Chapter 1 Consumer choice 2 1.1 Commerce and choice 4 1.2 More decisions to make 6 1.3 Comparison shopping 8 1.4 Choosing where to buy (1) 10 1.5 Choosing where to buy (2) 12 1.6 Choosing where to buy (3) 14 1.7 Key factors affecting consumer decisions 16 1.8 The need for consumer protection 18 1.9 Features of a simple contract 20 1.10 Legal rights and protective legislation for consumers 22 1.11 Organisations that provide assistance for consumers 24 1.12 Processes of consumer redress 26 1.13 Payment choices (1) 28 1.14 Payment choices (2) 30 1.15 Methods of keeping records 32 1.16 Changes over time and the impact of technology 34 Check & Challenge 36 Using ICT 38 Chapter 2 Personal finance 40 2.1 Earning an income 42 2.2 Spending and saving income 44 2.3 Factors that influence the need for saving 46 2.4 Borrowing money: credit (1) 48 2.5 Borrowing money: credit (2) 50 2.6 Borrowing money: credit (3) 52 2.7 Managing your money 54 2.8 Insurance 56 2.9 Consequences of poor financial management (1) 58 2.10 Consequences of poor financial management (2) 60 2.11 Sources of financial advice 62 2.12 Laws that regulate and monitor the financial services industry 64 2.13 Investing money 66 2.14 Overview of investment options 68 Check & Challenge 70 Using ICT 72 Chapter 3 Law and society 74 3.1 Reasons for laws 76 3.2 Origin of Australia?s laws 78 3.3 The legal system 80 3.4 The courts structure: hierarchy (1) 82 3.5 The courts structure: hierarchy (2) 84 3.6 The role of court personnel 86 3.7 Juries 88 3.8 Areas of law: private and public 90 3.9 Areas of law: civil law 92 3.10 Areas of law: criminal law 94 3.11 How laws are made: common law 96 3.12 How laws are made: statute law 98 3.13 How a bill becomes a law 100 3.14 The relationship of laws to values, morals and ethics 102 3.15 How laws are changed 104 3.16 Accessing the law 106 3.17 Issues of fairness in using the law 108 Check & Challenge 110 Using ICT 112 Chapter 4 Employment issues 114 4.1 Types of employment 116 4.2 Changing work patterns (1) 118 4.3 Changing work patterns (2) 120 4.4 Changing work patterns (3) 122 4.5 Benefits of education and training for employment (1) 124 4.6 Benefits of education and training for employment (2) 126 4.7 Types of employment contract (1) 128 4.8 Types of employment contract (2) 130 4.9 Types of employment contract (3) 132 4.10 Unemployment 134 4.11 Legal issues relating to the workplace (1) 136 4.12 Legal issues relating to the workplace (2) 138 4.13 Legal issues relating to the workplace (3) 140 4.14 The role of unions and employer groups 142 4.15 Resolving disputes 144 4.16 Taxation 146 4.17 Superannuation 148 Check & Challenge 150 Using ICT 152 OPTION Chapter 5 Investing 154 5.1 Investment decisions 156 5.2 Financing investment 158 5.3 Ethical investments 160 5.4 Range of investment options 162 5.5 Risk and return 164 5.6 Selecting a mix of investments 166 5.7 Maintaining records and monitoring investments 168 Chapter 6 Promoting and selling 170 6.1 The selling process 172 6.2 Product promotion strategies (1) 174 6.3 Product promotion strategies (2) 176 6.4 Targeting customers 178 6.5 Product promotion strategies: legal and ethical issues 180 6.6 Applying selling techniques 182 6.7 Monitoring and evaluating selling techniques 184 Chapter 7 E-commerce 186 7.1 The scope of e-commerce 188 7.2 Online shopping (1) 190 7.3 Online shopping (2) 192 7.4 Online shopping (3) 194 7.5 Advice on consumer issues 196 7.6 E-consumer protection issues 198 7.7 Financial services 200 7.8 Laws relating to young people using e-commerce 202 7.9 Workplace issues 204 Chapter 8 Global links 206 8.1 The global consumer 208 8.2 Australia?s changing trade patterns ? exports 210 8.3 Australia?s changing trade patterns ? imports 212 8.4 The global investor 214 8.5 Transnational organisations (1) 216 8.6 Transnational organisations (2) 218 8.7 Global business 220 8.8 International aid programs 222 Chapter 9 Towards independence 224 9.1 Moving from home 226 9.2 Arranging accommodation 228 9.3 Processes for arranging a lease 230 9.4 Managing finances 232 9.5 Insurance 234 9.6 Major purchases 236 9.7 Financing a major purchase 238 9.8 Community involvement and lifestyle issues 240 Chapter 10 Political involvement 242 10.1 Structure of government (1) 244 10.2 Structure of government (2) 246 10.3 Political action 248 10.4 Decision making (1) 250 10.5 Decision making (2) 252 10.6 Participation in the democratic process 254 10.7 Role and function of political parties 256 10.8 Pressure groups and individuals 258 Chapter 11 Travel 260 11.1 Travel destinations 262 11.2 Factors influencing the choice of travel destinations 264 11.3 Planning a trip 266 11.4 Options for organising travel 268 11.5 Considerations when planning a trip 270 11.6 Organising an itinerary 272 11.7 Solving travel problems: passports 274 11.8 More travel problems 276 Chapter 12 The law in action 278 12.1 Contact with the law 280 12.2 Contact with the criminal law and elements of a crime 282 12.3 Punishment for a crime 284 12.4 You?re under arrest 286 12.5 Contact with the civil law 288 12.6 Rights, responsibilities and protection under the law 290 12.7 Methods of resolving disputes 292 Chapter 13 Our economy 294 13.1 Economic links 296 13.2 The business cycle (1) 29 13.3 The business cycle (2) 300 13.4 Interest rates 302 13.5 Effects of rising and falling interest rates 304 13.6 Inflation 306 13.7 Exchange rates 308 Chapter 14 Community participation 310 14.1 Non-profit organisations 312 14.2 Roles, functions and impact of community organisations 314 14.3 Active community participation 316 14.4 Benefits of membership and being an effective participant 318 14.5 Goal-setting in a range of contexts 320 14.6 Strategies to achieve objectives 322 14.7 Achieving community outcomes 324 Chapter 15 Running a small business 326 15.1 Being an entrepreneur 328 15.2 Selecting business opportunities 330 15.3 Selecting the appropriate structure 332 15.4 Going into business (1) 334 15.5 Going into business (2) 336 15.6 Meeting regulations and selling products 338 15.7 Maintaining records 340 15.8 Risk management and key issues related to running a business 342 Glossary 344 Index 351

About the Author

Stephen Chapman is an active teacher, author, HSC marker and consultant, with 28 years? experience as a classroom teacher and Head Teacher. He has authored/co-authored 14 textbooks in the areas of Commerce, Business Studies and Economics. He has won awards for teaching excellence and pedagogical writings as well as a Commonwealth Parliamentary Teaching Fellowship. As a consultant, he works with schools to develop teaching programs and educational resources. Malcolm Freak has 30 years of teaching experience in New South Wales schools, primarily in the subject areas of Commerce and Economics. He is currently Head Teacher of Social Science at Duval High School, in the university city of Armidale. He is an established coauthor of a range of popular teaching resources for New South Wales students, including the original Concepts in Commerce and Introducing Economics. Malcolm has also been involved in HSC marking for Economics and has been awarded several Commonwealth Bank Financial literacy grants.