What does the term 'business' mean?

A particular company that buys and sells goods and services.

What does the term 'receipt' mean?

A written or electronic record of receiving of goods, services or money.

What does the term 'exchange' mean?

The act of giving or taking one thing in return for another.

What does the term 'Financial literacy' mean?

A set of skills that allow people to manage their money wisely.

What does the term 'refund' mean?

To pay back a customer who is not satisfied with goods or services bought.

What does the term 'entrepreneur' mean?

A person who sets up a business with financial risks in the hope of profit.

What does the term 'economics' mean?

The study of goods, production, distribution, consumption and wealth.

What does the term 'consumer rights' mean?

The right of consumers to be protected from defective goods and services.

What does the term 'want' mean?

Have a desire to possess or do (something); wish for.

What does the term 'Feedback' mean?

Personal reactions to a product, or a person's performance of a task.

What does the term 'consumerism' mean?

The increased consumption of goods and services is preferable to decreased.

What does the term 'market' mean?

A place or event at which people meet in order to buy and sell things.

What does the term 'customer complaint' mean?

Negative feedback about a company's product, service, or support.

What does the term 'industry' mean?

A group of manufacturers/businesses that produce similar goods or services.

What does the term 'consumer' mean?

A person who purchases goods and services for personal use.

What does the term 'Ecological Footprint' mean?

Environmental impact based on personal resource consumption and lifestyle.

What does the term 'customer' mean?

Individuals or business that purchases another company's goods or services.

What does the term 'goods' mean?

Are physical, produced objects for which a demand exists.

What does the term 'job' mean?

The work that a person does regularly in order to earn money.

What does the term 'need' mean?

Something that is impossible to live without.

What does the term 'Umbudsman' mean?

An official who investigates complaints against businesses.

What does the term 'sustainability' mean?

Meeting our wants and needs without compromising future generations.

What does the term 'career' mean?

An individual's chosen profession or occupation.

What does the term 'Financial Goals' mean?

Targets set by an individual to achieve financial milestones or plans.

What does the term 'services' mean?

Work done for others, such as cleaning, repairing or caring for a building.

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YR7 ISC ECONOMICS PRE-POST-MID QUIZ

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Questions 25

Answers

1
What does the term 'business' mean?
The study of goods, production, distribution, consumption and wealth.
A place or event at which people meet in order to buy and sell things.
A particular company that buys and sells goods and services.
A set of skills that allow people to manage their money wisely.
2
What does the term 'receipt' mean?
A written or electronic record of receiving of goods, services or money.
To pay back, a customer who is not satisfied with goods bought.
A place or event at which people meet in order to buy and sell things.
The idea that increasing the consumption of goods is always a good thing.
3
What does the term 'exchange' mean?
To pay back, a customer who is not satisfied with goods bought.
The act of giving or taking one thing in return for another.
Information about reactions to a product, or a person's performance.
A group of manufacturers that produce particular goods or services.
4
What does the term 'Financial literacy' mean?
Targets set by an individual to achieve financial milestones or plans.
A set of skills that allow people to manage their money wisely.
The increased consumption of goods and services is always good.
A written or electronic record of receiving of goods, services or money.
5
What does the term 'refund' mean?
To pay back a customer who is not satisfied with goods or services bought.
A group of manufacturers or businesses that produce similar goods.
The act of giving or taking one thing in return for another.
The act of giving or taking one thing in return for another.
6
What does the term 'entrepreneur' mean?
The study of the production, distribution, and consumption of goods.
A person who sets up a business with financial risks in the hope of profit.
An official who investigates complaints against businesses.
Meeting our wants and needs without compromising future generations.
7
What does the term 'economics' mean?
The act of giving or taking one thing in return for another.
A place or event at which people meet in order to buy and sell things.
The study of goods, production, distribution, consumption and wealth.
The increased consumption of goods and services is always a good thing.
8
What does the term 'consumer rights' mean?
A set of skills that allow people to manage their money wisely.
Meeting our wants and needs without compromising future generations.
The right of consumers to be protected from defective goods and services.
The increased consumption of goods and services is always a good thing.
9
What does the term 'want' mean?
Something that is impossible to live without.
Are physical, produced objects for which a demand exists.
A person who purchases goods and services for personal use.
Have a desire to possess or do (something); wish for.
10
What does the term 'Feedback' mean?
To pay back, typically to a customer who is not satisfied with goods bought
Meeting our wants and needs without compromising future generations.
A set of skills that allow people to manage their money wisely.
Personal reactions to a product, or a person's performance of a task.
11
What does the term 'consumerism' mean?
A place or event at which people meet in order to buy and sell things.
Individuals or business that purchases another company's goods or services.
The increased consumption of goods and services is preferable to decreased.
A set of skills that allow people to manage their money wisely.
12
What does the term 'market' mean?
Work done for others, such as cleaning, repairing, or caring for a garden.
The study of production, distribution, and consumption of wealth and goods.
A place or event at which people meet in order to buy and sell things.
A particular company that buys and sells goods and services.
13
What does the term 'customer complaint' mean?
Negative feedback about a company's product, service, or support.
Information about reactions to a product, a person's performance of a task
The act of giving or taking one thing in return for another.
To pay back, typically to a customer who is not satisfied with goods bought
14
What does the term 'industry' mean?
Work done for others, such as cleaning, repairing, or caring for a garden.
A group of manufacturers/businesses that produce similar goods or services.
The work that a person does regularly in order to earn money.
A place or event at which people meet in order to buy and sell things.
15
What does the term 'consumer' mean?
Individuals or business that purchases another company's goods or services.
A person who purchases goods and services for personal use.
A place or event at which people meet in order to buy and sell things.
An individual's chosen profession or occupation.
16
What does the term 'Ecological Footprint' mean?
An official who investigates complaints against businesses.
The increased consumption of goods and services is always good.
Environmental impact based on personal resource consumption and lifestyle.
A group of manufacturers/businesses that produce similar goods or services.
17
What does the term 'customer' mean?
A place or event at which people meet to buy and sell things.
Individuals or business that purchases another company's goods or services.
A group of manufacturers/businesses that produce similar goods or services.
A particular company that buys and sells goods and services.
18
What does the term 'goods' mean?
Work done for others, such as cleaning, repairing or caring for a garden.
Something that is impossible to live without.
Are physical, produced objects for which a demand exists.
Have a desire to possess or do (something); wish for.
19
What does the term 'job' mean?
Meeting our wants and needs without compromising future generations.
Work done for others, such as cleaning, repairing, an caring for a garden.
A group of manufacturers/businesses that produce similar goods or services.
The work that a person does regularly in order to earn money.
20
What does the term 'need' mean?
Are physical, produced objects for which a demand exists.
Have a desire to possess or do (something); wish for.
Work done for others, such as cleaning, repairing or caring for a building.
Something that is impossible to live without.
21
What does the term 'Umbudsman' mean?
The increased consumption of goods and services is preferable to decreased.
A place or event at which people meet in order to buy and sell things.
A set of skills that allow people to manage their money wisely.
An official who investigates complaints against businesses.
22
What does the term 'sustainability' mean?
The idea that increasing the consumption of goods is always good.
Meeting our wants and needs without compromising future generations.
The right of consumers to be protected from defective goods or services.
A group of manufacturers/businesses that produce similar goods or services.
23
What does the term 'career' mean?
An individual's chosen profession or occupation.
Work done for others, such as cleaning, repairing, and caring for a garden.
The work that a person does regularly in order to earn money.
An official who investigates complaints against businesses.
24
What does the term 'Financial Goals' mean?
The amount goods and services necessary to support a particular lifestyle.
Meeting our wants and needs without compromising future generations.
Targets set by an individual to achieve financial milestones or plans.
A set of skills that allow people to manage their money wisely.
25
What does the term 'services' mean?
Have a desire to possess or do (something); wish for.
Something that is impossible to live without.
Work done for others, such as cleaning, repairing or caring for a building.
Are physical, produced objects for which a demand exists.

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