Things that you think will make life more enjoyable

Why does shipping in Australia cost more?

It is remote to larger countries

Small businesses are/do not:

Have multiple store that are the same

What does supply mean?

how much of the product a producer makes

When one choice is made another is no longer avaliable

What does a not for profit organisation always do?

Uses any profit to help their charity/cause/elresearch

Things that you need to survive

In economic terms, What does a producer do?

Supplies goods and services to a consumer

An activity that fills a public need

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Business and Economics

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Questions 26

Answers

1
Mr Les is an example of:
A small buisness
A big buisness
2
What are wants?
Things that you think will make life more enjoyable
Things that you need to survive
Things that have no relevance to us
Things you can eat
3
Needs and wants of a country are NOT based on:
Land size
Population
Climate
Density
4
Needs and wants are different in different countries
True
False
5
Why does shipping in Australia cost more?
The Australian dollar isn’t worth much
It is remote to larger countries
High demand of goods
Australians are happy to pay high shipping rates.
6
eBay is an example of:
A local buisness
A national buisness
A global buisness
7
Small businesses are/do not:
Found all over the word
Have multiple store that are the same
Often family owned
Local to a small communities
8
A mine is an example of:
A secondary buisness
A tertiary buisness
A primary buisness
A diamond
9
What does supply mean?
How many consumers are going to buy a resource
how much of the product a producer makes
An activity that fills a public need
Resources that are produced and used to make other resources
10
A bank is an example of a
Shop
Primary buisness
Secondary buisness
Tertiary buisness
11
McDonalds is an example of
A big buisness
A small buisness
12
Which is an example of a secondary business?
Toy maker
Farmer
Bank
Lawyer
13
Land, water and minerals are examples of:
Human Resources
Goods
Natural resources
Capital resources
14
In economic terms: Good are:
Things that you can buy
Things that you possess
Fun things you own
Jobs that you can do
15
Trade off means:
When one choice is made another is no longer avaliable
When you have to give someone money for an item
Giving someone something you no longer need
You build an apartment out of bricks
16
Money, tools and equipment are examples of:
Supply
Human Resources
Natural resources
Capital resources
17
If I brought a bike for $200 and then sold it for $150 would I make a profit?
No
Yes
18
What does a not for profit organisation always do?
Gets people to donate money to their cause
Uses any profit earned to save the environment
Uses any profit to help their charity/cause/elresearch
Buy monkeys for their employees
19
When a business makes money for its owners and stakeholders it is considered:
Non profit
For profit
To be boring
A good buisness
20
What are needs?
Things that you need to survive
Things that you think would make life better
A pop group that sings song about unrealistic events
Things that other people have but you don’t
21
Air, water and food are examples of:
Needs
Wants
Consumers
Trade offs
22
There are three types of businesses, which is not one of these:
Secondary
Middle
Tertiary
Primary
23
In economic terms, What does a producer do?
Demands goods and services from a consumer
Make movies
Creates energy for plants and animals to survive
Supplies goods and services to a consumer
24
A service is:
Groups of people at a party
A person who builds things
A person who fixes things
An activity that fills a public need
25
What does CEO stand for?
Christmas Exclusive Order
Consumer efficiency organisation
Chief executive officer
Cheap elegant outfit
26
The government has to make decisions in order to meet the needs and want of their people.
True
False

Business and Economics Flashcards | StudBud