Starter quiz
- The ______ Policy Committee (MPC) sets the Bank of England base rate, influencing savings, borrowing and inflation.
- 'Monetary' ✓
- Match the word to the correct definition.
- fraud⇔when someone acts, lies or breaks trust to gain money or cause a loss ✓
- scam⇔a dishonest scheme designed to trick people into giving away things ✓
- phishing⇔an attempt to obtain sensitive information by acting trustworthy ✓
- pharming⇔redirecting users from a legitimate website to a fraudulent one ✓
- If someone is careful about their purchases and does not buy things on impulse, they are called a …
- cautious customer
- careful client
- critical consumer ✓
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- What type of investments provide stable growth for risk-averse investors?
- cryptocurrencies
- funds ✓
- high-risk stocks
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- Which of the following statements is true about investments like stocks, bonds, funds, property, commodities and cryptocurrency?
- They always guarantee a profit over time.
- They generate returns but all carry some level of risk. ✓
- Only cryptocurrency carries risk; other investments are completely safe.
- Investing in property is risk-free compared to other investments.
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- Which of the following actions involve being a critical consumer?
- buying whatever looks appealing
- avoiding impulse purchases ✓
- maximising savings ✓
- spending without a budget
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Exit quiz
- What rights do consumers have?
- to receive goods and services that are unsafe
- to receive goods and services that are safe ✓
- to receive free goods and services
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- The ______ Rights Act (2015) ensures protection against faulty or misleading products.
- 'Consumer' ✓
- Match the words to the correct definition.
- consumers⇔someone who buys goods or services for their own use ✓
- faulty products⇔products that do not work as they should ✓
- misleading products⇔products that are not accurately described ✓
- What can a consumer do if a seller refuses to fix a problem?
- ignore it and do nothing
- take legal action or report them to Trading Standards ✓
- buy from them again anyway
- complain to a friend
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- Fill in the blank: Consumers have some level of protection up to ______ after you purchased something with no extra guarantee.
- '30 days ' ✓
- Why is it important to understand our rights as consumers?
- to get discounts
- to make informed choices ✓
- to avoid shopping
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Worksheet
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Lesson Details
Key learning points
- Consumers have the right to receive goods and services that are safe, satisfactory quality and accurately described.
- The Consumer Rights Act (2015) ensures protection against faulty or misleading products.
- Trading Standards enforces these laws by investigating complaints and holding businesses accountable.
- If a seller refuses to resolve an issue, legal action can be taken.
- Understanding our rights empowers us to be critical consumers who make informed choices.
Common misconception
You have no protection after 30 days of purchasing goods and services.
After 30 days, a replacement, repair or credit can be given (except for food items like milk). A discount or a refund could also still be given. There is some level of protection up to six months after you purchased something with no extra guarantee.
Keywords
Consumer - someone who buys goods or services for their own use, rather than to sell or use for business
Trading standards - a government service in the UK that protects consumers from unfair, unsafe or dishonest business practices; it makes sure that businesses follow the law when selling goods and services
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