An entrepreneur is...

Someone who sets up a business taking financial risks to try n make profit

What happens in division of labour?

1 person only does the thing they are best at.

What are the Factors of Production?

Land, Labour, Capital and Enterprise

Which of these is not an advantage of division of labour?

Workers can become bored and unmotivated

how much people are willing and able to buy a good

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Mixed bag_ICSE

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Questions 15

Answers

1
An entrepreneur is...
Someone who only supervises the business.
Someone who sets up a business
Someone who sets up a business taking financial risks to try n make profit
Someone runs the business.
2
What happens in division of labour?
One person completes a joint task.
1 person only does the thing they are best at.
Tiddy eats salmon.
When you finish your social studies homework.
3
What are the Factors of Production?
Work, Land, Labour and Inflation
Land, Labour, Capital and Enterprise
Goods and Services
Capital, Land, Labour and Jobs
4
Who determines demand?
Sellers
Buyers
5
Joint demand is also called
complementary demand
derived demand
normal demand
substitute demand
6
Which of these is not an advantage of division of labour?
Workers become experts at their task or job
Less time is wasted moving from task to task
Workers can become bored and unmotivated
Quicker and easier to train workers as fewer skills needed
7
Demand for car and petrol is
joint demand
competitive demand
direct demand
composite demand
8
Process based division of labour is
mixed
complex
complicated
simple
9
The law of demand states that as the price increases
Quantity demanded increases
Demand decreases
Quantity demanded decreases
Demand increases
10
Demand for a car is a
Composite demand
Direct demand
Joint demand
Derived demand
11
What is demand?
how much people are willing and able to buy a good
when a karen demands to see the manager
relationship between people and their money
how many people want to buy a good
12
the functions of money include the following, except
means of exchange
store of value
measure of wealth
unit of account
13
Rent is the factor reward for which factor of production?
Labour
Capital
Entrepreneurship
Land
14
The demand line slopes
straight across
upwards left to right
downwards left to right
upwards right to left
15
The owner represents which factor of production?
Labour
Land
Entrepreneurship
Capital

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