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- 1. Multiple Choice
A producer is
Makes, grows or eats their goods only.
Makes, grows or supplies baked goods for sales.
Makes, grows or supplies goods for sales.
Makes, grows or bakes the ingredients only.
- 2. Multiple Choice
A need is
Items that you can live with occasionally.
Items that you cannot survive without.
Items that you cannot eat.
Items that you would like.
- 3. Multiple Choice
Supply means:
The amount of a product a producer makes.
The amount of a good to sell.
The amount a product costs.
The amount of cakes to bake.
- 4. Multiple Choice
Goods are:
Items that are purchased to be used by a customer.
Items that are purchased to have fun with.
Items that are sold at a profit.
Items are given for free.
- 5. Multiple Choice
A want is:
Something you require urgently.
Something you cannot live without.
Something you would like to have.
Something that is made available to you.
- 6. Multiple Choice
Services are:
An activity that people have to do.
An activity that people get paid for.
An activity that fills a public need for paid or unpaid work.
An activity that serves people food.
- 7. Multiple Choice
A consumer is:
A person who is given the right to complain.
A person who sells goods and services.
A person who purchases goods only.
A person who purchases goods and services.
- 8. Multiple Choice
Profit means:
The money made after you sell everything.
The money made after all the costs have been taken away.
The amount of money things cost.
The amount of money you get as your weekly allowance.
- 9. Multiple Choice
Resources mean:
Something made out of plastic.
Something that can be used to produce goods and services.
Something made from the ground.
Something that is man-made.
- 10. Multiple Choice
Human Resources mean:
People that make up the workforce.
People that only taste the food.
People that test how good the product is.
People that get paid to do nothing.
- 11. Multiple Choice
Economics:
The study of the stock market only.
The study of how things are bought and sold.
The study of air conditioners.
The study of how to be rich only.
- 12. Multiple Choice
Demand:
Is a popularity contest only.
Pre-orders of sales.
How many consumers are going to buy the goods or services.
How many people are going to protest.
- 13. Multiple Choice
Capital Resources:
Resource produced and used to make another resource.
Resource that is made out of money.
Resources made from ingredients and paper only.
Resources that are cut down from trees.
- 14. Multiple Choice
Natural resources:
Found in trees only.
Found in the supermarket.
Made out of plastic.
Found in the environment.
- 15. Multiple Choice
The 4 most important needs of Australia people is food, water, shelter and security.
True
False
- 16. Multiple Choice
A good is doctor, police, nurse, firefighter.
True
False
- 17. Multiple Choice
Private jet plane, mansion, plasma tv and a Rolls Royce are examples of wants people might like to have.
True
False
- 18. Multiple Choice
If Sally is drinking a milkshake, she is a:
Producer
Consumer
- 19. Multiple Choice
If Sally is mixing the ingredients to bake cookies, she is a:
Producer
Consumer
- 20. Multiple Choice
Primary business retrieves and produces raw materials. Which of the following is a primary business?
Mine
Medical
Bank
Store
- 21. Multiple Choice
Secondary business transforms raw materials into goods. Which of the following is a secondary business?
Store
Farming
Lawyer
Wool
- 22. Multiple Choice
Tertiary business supplies services to consumers and your businesses. Which of the following is a tertiary business?
Teacher
Pencil
Desk
School
- 23. Multiple Choice
Identify whether the example is a capital, human and natural resource necessary to manufacture a thneed from the Lorax. An axe used to chop down the trees.
Capital Resource
Human Resource
Natural Resource
- 24. Multiple Choice
Identify whether the example is a capital, human and natural resource necessary to manufacture a thneed from the Lorax. Pond that provided water for animals.
Capital Resource
Human Resource
Natural Resource
- 25. Multiple Choice
Identify whether the example is a capital, human and natural resource necessary to manufacture a thneed from the Lorax. The Lorax keeps the trees safe and helps them grow.
Capital Resource
Human Resource
Natural Resource
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