Commerce

• Full time = 38 hours and gets entitlements such as Sick leave , maternity leave, annual leave 
• Casual  = irregular hours and doesn’t get entitlements
• Unpaid = Flexible hours and doesn’t get entitlements
• Self-employed = Flexible hours and doesn’t get entitlements
• What are the THREE main ways to search for jobs?

  • Networking
  • Online Application
  • Internet  
• Other than to receive income for needs and wants (disposable income) why

  Do people work?

  • To make money 
  • To help others  
  • To make friends 
  • Prepare for retirement 
  • To gain status or prestige
• The main employment contracts include

  Common  Law : Fair Work makes this 

  Awards  : for the industries 

  Enterprise Agreement company :
• Individual tax is paid by anyone who is employee and earns more that

  $18200
• Australia has a Progressive Tax system. This means the more income

  you earn the more tax you pay.
• Tax Brackets show you how much tax you pay. Is it measured by

  cents in a dollar. 
• The government redistributes tax income on Aged Care , Hospitals, bills, government and community services. 
•  Modern Awards with Trade Union and Employer

  Associations input for their industries.
• Employer Associations provide advice and information on

  negotiate on behalf of Employers .
• Types of work that have decreased include Full Time 
• Types of work that have increased include Part Time/ casual
•  The five business industries are Primary , Secondary , Tertiary ,

  Quaternary and Quinary 
• Industries that have decreased include Agriculture (give both the

  industry category from above and the example)

  More Machines- primary
• AI will replace adminastrains jobs
• AI should not replace jobs such as teachers/nanys 
• AI will create jobs such as systems administrators
• Covid 19 increase working from home 
• Penalty  rates not being paid e.g. public holidays , night shifts , weekends, evoertime, early morning shifts 
• Work Health and safety accidents occurring in the workplace

  that breach the 2011 ACT.
• Anti-discrimination in the workplace can include being treated

  Less favorably because of factors such as gender , age,

  Enostity , religion or disability .
• Define – provide a definition on main term/concept/answer

  Point – write a full sentence Answer 

  Elaborate – respond to the directive Verb 

  Evidence – Proof - your elaboration

  Link – Summary main points of paragraph
• Convenience: the state of being able to proceed with something without difficulty
• Scarcity: the state of being scarce or in short supply; shortage.
• Disposable income: income remaining after deduction of taxes and social security charges, available to be spent or saved as one wishes.
• Scarcity occurs when supply is low and demand is high, influencing buying decisions by making products seem more valuable and urgent. Rare or limited items create a fear of missing out, leading to higher prices and impulse purchases. Businesses can leverage scarcity through limited editions or time-limited deals to attract customers
• Advertising/marketing (branding)

  Advertising is a form of commutation used to persuade an audience to take some action advertising allows potential customers to buy the product . 
• Age

  Age impacts your on what goods service we need and want. 

  For example, a baby you might need a baby bottle and as an adult you might need a phone. 
• convenience

  • Convenience means how easy it is for people to get what they want.
  • It's about making things quick and simple for customers.
  • Examples include ordering online instead of going to a store or using a drive-through instead of going inside.
  • Businesses try to be more convenient to attract more customers.
  • Convenience can greatly impact what people choose to buy or use.
• Culture

  Culture is like a set of ideas and customs shared by a group.

  It shapes what we think is normal or important.

  Our culture affects what we believe about products.

  Advertisements use things important to our culture to sell products.

  Our friends and family influence what we buy based on our culture.

  Even within a culture, different groups might like different things.
• customer service

  Good presales and after sales service makes you feel you are a valued customer. Consequently you will keep buying products from that store. Poor service can have the opposite effect. 
• disposable income

  Disposable income refers to the amount of money that households have available for spending and saving after income taxes have been accounted for . A buyer with a higher disposable income will spend more on luxury or lifestyle items. People with higher disposable income also spend more on vacations and tours.
• environmental considerations

  People care about the environment when they buy things. They prefer products that don't waste resources, pollute, or harm the Earth. They like companies that are environmentally friendly and treat workers well. Labels showing eco-friendly products make them happy. Government rules can also affect what people buy. So, companies should make Earth-friendly products because more people care about that.
• Price

  If the price of a good is more than you can afford, you will probably not buy it. Conturmener want the best value for their money  that is they what to pay the lowest price for the best quality  
• Quality 

  People will be willing to pay more for as simple good or service due a service better quality 

  Better quality products tend to be more durable and this can influence some purchases these products
• Describe factors that impact financial decisions 

  Some Factors that could affect personal financial concerns are: 

  career

  health

  choices, 

  family structure,age.
• Explain how disposable income influences financial decisions 

  Having disposable income gives people the freedom to decide how to spend their money.