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Thread: HSC 2017 Business Studies Marathon

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    HSC 2017 Business Studies Marathon

    Decided to open up a Business Studies Marathon for any current or former HSC students to discuss any content related to this subject.

    I've done some accounting and finance units before but hardly remember any of it as I did it a long time ago. Thought it would be good to brush up a few concepts along the way.
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    Re: HSC 2017 Business Studies Marathon

    This was the 1st question in last years HSC exam (2016)

    Q1. A red leather lounge was purchased from Lounge Ltd. After only 2 weeks of use, the legs of the couch fell off.

    What is the law that enforces the warranty in this situation?

    (A) Corporations Act 2001 (Cth)
    (B) Fair Trading Act 1997 (NSW)
    (C) Trade Practices Act 1974 (Cth)
    (D) Competition and Consumer Act 2010 (Cth)


    A reason would be good in supporting your answer. (I haven't actually heard of the Competition and Consumer Act 2010 (as I currently speak)).
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    Re: HSC 2017 Business Studies Marathon

    Quote Originally Posted by davidgoes4wce View Post
    This was the 1st question in last years HSC exam (2016)

    Q1. A red leather lounge was purchased from Lounge Ltd. After only 2 weeks of use, the legs of the couch fell off.

    What is the law that enforces the warranty in this situation?

    (A) Corporations Act 2001 (Cth)
    (B) Fair Trading Act 1997 (NSW)
    (C) Trade Practices Act 1974 (Cth)
    (D) Competition and Consumer Act 2010 (Cth)


    A reason would be good in supporting your answer. (I haven't actually heard of the Competition and Consumer Act 2010 (as I currently speak)).
    The CCA was previously known as the Trade Practices Act.

    So you probably knew about the Trade Practices Act but didn't know it's replacement.
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    Re: HSC 2017 Business Studies Marathon

    Nice so I'm taking it you would pick D?
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    Re: HSC 2017 Business Studies Marathon

    Read a little interesting statistic.

    In the last 2 decades the number of enrolments in Business Studies has increased by up almost 40% from 2 decades ago.

    1996: 12,522
    2006: 16,029
    2016: 17,557
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    Re: HSC 2017 Business Studies Marathon

    Quote Originally Posted by RivalryofTroll View Post
    The CCA was previously known as the Trade Practices Act.

    So you probably knew about the Trade Practices Act but didn't know it's replacement.
    The answer was D but this is the definition from wikipedia:

    "The Act is the legislative vehicle for competition law in Australia, and seeks to promote competition, fair trading as well as providing protection for consumers."

    I struggle to link that definition with the question, where the legs fell off the couch and why it would be selected over the other 2 . (Since we eliminated the Trade Practices act 1974)
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    Re: HSC 2017 Business Studies Marathon

    Q2. 2016 HSC

    Ruth observed that a work colleague was stealing and reported the theft to her supervisor.
    As a result, Ruth’s employment was terminated.
    What is this an example of?
    (A) Performance management
    (B) Redundancy
    (C) Retrenchment
    (D) Unfair dismissal
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    Re: HSC 2017 Business Studies Marathon

    Redundant to me means - when its duties are no longer needed to be done by anyone.

    Retrenchment- reduction of the workforce due to an economic downturn
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    Re: HSC 2017 Business Studies Marathon

    I'm probably leaning towards (D) just due to the fact that in her role in the company she was doing the ethical thing and reporting a bad action that occurred from within her company to her supervisor. She has every right to be hard done by. (I know that's not the most pleasant explanation but you get the general gist)
    Last edited by davidgoes4wce; 18 Feb 2017 at 12:47 AM.
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