What is the labour market?

workers sell their skills/knowledge and effort to empolyers

In Economics a producer is...

A company or person who creates goods and services to sell

In economics resources are...

used to create goods and services

Who are the market participants?

me, International Companies, fund managers, commercial & central banks

what is economics about

Economics is the study that the production, distribution and consumption

In Business, what is a 'stakeholder'?

Customers, employees, local community.

In Economics a 'good' is defined as:

An item that consumers purchase for a set price

In economics a service is:

A task someone completes for a consumer at a set price

main factors of economics

Land, Labour, Capital, Entreprise

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Economics and Business Introduction

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Questions 19

Answers

1
What is the labour market?
workers sell their skills/knowledge and effort to empolyers
where shares in Australian companies are listed on the ASX
different currencies from around the world bought and sold
where houses are bought and sold
2
Economics and business
Are intertwined
Are the same
Are different
Are insane
3
What is an example of a national Business
Joseph's Burgers
Bunnings
Kmart
Hungry Jacks
4
In Economics a producer is...
A company or person who creates goods and services to sell
A person in charge of making a movie
A person who buys goods and services
Someone who creates somethins
5
Business owned and operated by one person
Private
Partnership
Sole trader
Public
6
In economics resources are...
used to create goods and services
infinite
unlimited
types of income
7
Who are the market participants?
me
International Companies
fund managers
commercial & central banks
8
what is economics about
the world within iself
money
Economics is the study that the production, distribution and consumption
work
9
In economics, a market includes
a Sunday market with stalls
eBay
a supermarket
all of the above
10
What measurements can be used to determine the size of a business?
the number of owners
the legal structure
All of the above
the number of employees
11
economics is only about money
True
False
12
In economics, needs and wants are
unlimited
exchanged
never-ending
limited
13
In Business, what is a 'stakeholder'?
A shareholder.
A stockholder.
A customer.
Customers, employees, local community.
14
In Economics a 'good' is defined as:
The 'good' or right economic decision
A task that consumers pay someone to complete
An item that consumers purchase for a set price
A job done well
15
Stock Market
Buying A Stock
Buying and Selling Socks
Buying and Selling Stocks
Buying Stocks
16
In economics a service is:
A task someone completes for a consumer at a set price
A product that is tangible that consumers buy
A task someone completes for a consumer at a set price
The cost of running a business
17
main factors of economics
Land, Labour, Capital, Entreprise
Land, Labuor, Capitalism, Enterplease
Anime
Lamd, Labor, Capital, Entreprise
18
what is the focus of economics?
The Needs and Wants of society
How people gain Money
How chairs are built
The use of Money in the society
19
what would be an example of a Local Business
A Corner store
Bunnings
hamishs burgers
Coles

Economics and Business Introduction Flashcards | StudBud