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Grade 9 Introduction to Business Review Sheet

Consumerism - Unit Test

• Text, chapters #19, 21, and 28;
• Consumer Self Analysis;
• Choice, Chance, and Control - Video Question Sheet;
• Insurance Assignment - Calculating the Risk
• Unit Lesson Plans:
  • Lesson #7, Introduction to Consumerism
  • Lesson #8, Insurance - Choice, Chance, and Control
  • Lesson #9, Consumer Protection Legislation
  • Lesson #10, Consumer Contracts
  • Lesson #11, Consumer Protection Agencies

In order to successfully complete the BIB1W unit test on consumerism, the student should be able to perform the following tasks:

• identify the various risks associated with consuming, as well as the general forms of consumer protection available;

• outline a few simple consumer skills which one can use to limit risks in the market place;

• describe the theory of insurance, including the historical development of underwriting;

• explain the law of large numbers, and outline its application to the insurance industry;

• explain what the insurance industry means by "risk groups", and "risk control";

• calculate the premiums for a given item and risk group (this involves calculating the rate of loss as well as the premium amount);

• describe the purpose of the following peices of consumer protection legislation:
  • the Competition Act,
  • the Consumer Protection Act,
  • the Business Practices Act, and
  • the Consumer Reporting Act

• define three types of contracts:
  • oral,
  • written, and
  • implied

• explain four conditions of a valid contract:
  • offer and acceptance,
  • competence of parties,
  • mutual consideration, and
  • legal purpose

• outline what the provincial Sale of Goods Act considers to be an enforceable contract;

• explain what is meant by a breach of contract;

• effectively communicate the objectives, and the methods utilized by, the following consumer protection agencies:
  • Consumers' Association of Canada,
  • Better Business Bureau,
  • Canadian Standards Association, and the
  • Automobile Protection Association