Yr7 Economics revision 2021

When is your humanities test?

Which of the following allows producers and consumers to have a working relationship?

Minerals are examples of the _______ resource.

A need refers to a good or service which is _________ for survival.

Producers receive payment for the goods and services when ________ buy these.

Which factor of production provides the initial ideas for a business?

Which of the following refers to factors of production used to produce goods and services?

What do you need to study for your upcoming test?

Consumers provide labour to producers and in exchange receive _______.

Which of the following is an example of a 'capital' resource?

Who do businesses rely on to buy their goods and services?

The inventor of the sticky note is an example of which type of resource?

Laptops are an example of which factor of production.

Economic resources are also known as _________.

What are businesses?

Which of the following is an example of a 'want'?

Producers are ______ involved in the production of goods and services.

How can we define the term 'service'?

Do you need to bring a calculator to sit your humanities test?

___________ refers to man-made physical goods used to produce other goods and services

________ refer to human skills and efforts to produce goods and services.

Consumers rely on businesses to provide them with goods and services.

Which two sectors make up the simple circular flow of income model?

How can the term 'consumers' be defined?

What can consumers use to purchase goods and services?

What refers to the condition of being mutually reliant on one another?

Which of the following is an example of a 'good'?