Commerce 24

What are the four characteristics of money?

What are the four characteristics of money?

Divisible, Portable, Durable, Scarce.

What are Australian banknotes considered?

Legal tender throughout Australia.

What is the polymer substrate used for?

It is a security feature of banknotes to make counterfeiting harder.

What payment methods are commonly used in a cashless society?

Opal Card, Apple Pay, Debit Card, Credit Card, Gift Card, Cheques, PayPal, Coupons, Vouchers, Flybuys.

What year did Australia introduce polymer banknotes?

What is meant by 'counterfeiting'?

The illegal copying or imitation of currency.

What is ecotourism?

Nature based forms of tourism that support appreciation of nature.

Name three sources of personal income.

Operating a business, buying shares, and lending money.

What are some advantages of traveling by road?

You can leave/stop at your wishes and there is no baggage limit.

What is the economic impact of tourism?

Generates trillions of dollars in revenue and creates employment opportunities.

List two disadvantages of travel by air.

Weather influences and weight limit.

What can limit your payment with coins in Australia?

You can pay up to $5 with cent coins or up to 10x the face value of $1 & $2.

What is the significance of a legal tender?

It is the currency that must be accepted if offered in payment of a debt.

What does 'vulnerable to counterfeiting' mean in regard to money?

Money can be illegally reproduced or imitated.

How does tourism foster cultural exchange?

It allows travelers to experience different traditions, languages, and lifestyles.

Identify two types of tourism.

Cultural tourism and Sports tourism.

What health protocols did COVID-19 impose on tourism?

Practice of social distancing and rigorous health and safety protocols.

What should be done before planning travel to ensure safety?

Consider political situations, financial factors, and necessary documentation.

What is the advantage of using travel insurance?

It serves as a form of protection against travel risks.

What is the importance of the exchange rate?

It indicates the value of one currency in relation to another.

What is 'mass tourism'?

A large amount of tourists visiting the same place at the same time.

What is the purpose of a Vaccination before traveling?

To protect against diseases and meet health requirements.

What technological advancement was introduced in airport security?

Biometric passports with security chips.

What is a cashless society?

A society where financial transactions are made through digital means rather than cash.

What is the main purpose of travel itineraries?

To outline location, time, price, and activities for travel plans.

What type of insurance might frequent travelers consider?

An annual travel insurance policy.

What are two examples of recreational tourism?

Visiting natural places for leisure and attending cultural events.

What are 'intaglio prints' used for in banknotes?

A security feature providing a distinctive texture.

What can affect services in a country that tourists should consider?

Political situations and threats.

What should you do if your passport name needs to be changed?

You can change it on your passport if registered appropriately.

Name one thing that can impact travel costs.

Choosing accommodation.

What is often a requirement for obtaining a passport?

A valid birth certificate name.

Describe 'Culinary tourism'.

Traveling for culinary reasons, such as cooking schools.

What can be a downside of traveling by rail?

Punctuality matters and safety dependency.

How is e-money defined?

Electronic currency used for digital transactions.

What is the role of travel agents in tourism?

To provide information and services for travel destinations.

What are microprints used for in banknotes?

They are a security feature to deter counterfeiting.

What is the historical timeline of travel forms starting from bartering?

Bartering (6000 B.C), Physical objects (1000 B.C), Paper Money (80C), Gold (1816), Credit Cards (1950), E-money (1994), Crypto (2009).

What do travelers need to consider regarding health when traveling?

Vaccinations and potential quarantine due to diseases.

What is 'Voluntourism'?

Involves community work while traveling.

What can travelers use to navigate financial exchange?

Foreign exchange services.

What is one economic consequence of the COVID-19 pandemic for tourism?

Severe decline in travel.

What might travelers look for when selecting accommodations?

Reliability, comfort, and price.

How do travelers typically gather information for their trips?

Using media, travel agents, and websites.

Identify a method of transport that is environmentally friendlier.

Rail.

What does a 'replacement passport' entail?

A new passport issued if needed, usually with reduced fees.

What is a key feature of cashless consumer tools?

Convenience in transactions without cash.

What should travelers do to protect themselves on trips?

Understand local laws, customs, and keep valuables secure.

What is involved in the documentation needed for travel?

Visa, valid passport, itinerary and bookings.

What type of insurance do many travelers already have?

Insurance via their credit card.

What is commonly reviewed before planning a trip?

Financial factors including accommodation costs.

Name a common disadvantage of sea travel.

Risk of seasickness.

What is the timeline for Gold's introduction in currency?

Gold was standardized in currency in 1816.

What is the purpose of background print on banknotes?

It serves as a security feature that is difficult to replicate.

What technological advancement recognized in passport security?

A biometric passport with security features.

What should be considered before travelling with family and friends?

Personal factors like culture and history.