2019 Q3 Suggest a suitable source of finance to make the following consumer purchases. Purchases House Car
Sources of Finance Mortgage/Long-term loan Groceries
Hire purchase/Medium-term loan Credit card/Bank overdraft
Attention to detail is important to answer correctly. Never just write the
word “loan” in an answer for a source of finance. Your answer should either be a medium-term loan (for a car) or a long-term loan (for a house).
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CLASS ACTIVITYINTRO ACTIVITY Key Skill: Identify an appropriate source of finance for different household items
Q1Match each purchase with the most suitable source of finance. Purchase
1. Buying a house
2. Paying an electricity bill 3. Buying a new car
C. Hire Purchase
Q2Match each purchase with the most suitable source of finance. Purchase
1. Building an extension on your house 2. Paying for groceries
3. Buying large kitchen appliances
Source of Finance A. Bank Overdraft B. Mortgage
Source of Finance A. Credit Card
B. Medium-term loan C. Long-term loan
Q3 Suggest a suitable source of finance to make the following consumer purchases. 1. Paying a mobile phone bill. 2. Buying a laptop. 3. Purchasing a rental property.