Which is the difference between retail and wholesale?

Wholesalers buy a lot of products and sell them to retailers

What is commodity money?

A special physical object exchanged in many situations

How can we change our economic system?

As voters, As workers, As politicians, As consumers

What is planned obsolescence?

Products are designed to break or stop working in short time, The basis of our current economic system

Why is our economic system currently in crisis?

Because we are producing and consuming without any limits

Which are the three factors affecting the production of goods?

Natural resources, labour and capital

The money, factories and machines required to produce goods

What is perceived obsolescence?

The appearance of products is changed according to fashion

Which is currently the basis for the value of money?

The acceptance by everybody of the face value of money

What is overconsumption?

Buying things without reflecting on its real value

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The economic organisation of society

21 termsStudBud Administration133 plays

A quiz for #grade9 to review the basics about #economic activity, from #production to #distribution and #consumption, as well as economic #sectors and #systems.

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Questions 21

Answers

1
Which is the difference between retail and wholesale?
Retailers buy a lot of products and sell them to wholesalers
Wholesalers buy a lot of products and sell them to retailers
Retail is for consumer goods and wholesale for intermediate
Wholesale is more expensive than retail
2
Can production and distribution be done by the same person?
No
Yes
3
Which of the following is a primary need?
Transport
Clothes
Whatsapp
Education
4
What is commodity money?
Any physical object exchanged for another physical object
A special physical object exchanged in many situations
A type of money that is very comfortable
Money that represents the gold reserves of a central bank
5
In which system the means of production are privately owned?
Planned economy system
Capitalist system
Subsistence system
Alternative economies
6
In which system the state owns the means of production?
Capitalist system
Subsistence system
Planned economy system
Alternative economies
7
Which of the following people work in the quaternary sector?
A university teacher
The cleaning woman in a high technology laboratory
A social media manager
A neurologist
8
How can we change our economic system?
As voters
As workers
As politicians
As consumers
9
In which system the surplusses are sold or exchanged locally?
Subsistence system
Capitalist system
Planned economy system
Alternative economies
10
What is planned obsolescence?
People think carefully about what are they going to buy
Production and prices are planned by the government
Products are designed to break or stop working in short time
The basis of our current economic system
11
Why is our economic system currently in crisis?
Because politicians are ignorant, selfish and corrupt
Because banks and companies have too much power
Because we are producing and consuming without any limits
Because there is a lot of unemployment
12
Which are the three factors affecting the production of goods?
People, the public sector and companies
Consumer goods, intermediate goods and durable goods
Production, distribution and consumption
Natural resources, labour and capital
13
What is capital?
The money required to produce goods
The money, factories and machines required to produce goods
The human activity required to produce goods
The most important city in a country
14
Which of the following is a secondary need?
Healthy food
Relationships
Water
Housing
15
What is perceived obsolescence?
Products are designed to break or stop working in short time
People spend too much time watching TV advertisements
People are told to keep buying to support their country
The appearance of products is changed according to fashion
16
What is a bicycle?
An intermediate non-durable good
A consumer durable good
A consumer non-durable good
An intermediate durable good
17
Which is the essence of economic activity?
Human needs
Exchange
Money
Goods and services
18
Which system is based on respect for the people and for the nature?
Capitalist system
Subsistence system
Planned economy system
Alternative economies
19
Which is currently the basis for the value of money?
The acceptance by everybody of the face value of money
The current situation of the stock exchange
The gold reserves of each country's central bank
The material value of coins and banknotes
20
What is overconsumption?
Buying things without any reason
Buying more things than necessary
Buying things without reflecting on its real value
Buying a lot of things
21
Which system is based on individual freedom and productivity?
Planned economy system
Capitalist system
Subsistence system
Alternative economies

The economic organisation of society Flashcards | StudBud