Goods and services

Multiple Choice

___ are products that can be purchased, sold and exchanged.

• services

• goods

• labour

• capital

Multiple Choice

___ are products that can provide us comfort, knowledge, and entertainment.

• services

• goods

• labour

• capital

Multiple Choice

Medical care is an example of ___

• services

• goods

• labour

• capital

Multiple Choice

Public transportation is an example of ___

• services

• goods

• labour

• capital

Multiple Choice

"medicine, haircut, books, house, dress" How many are services in the list?

• 1

• 2

• 3

• 4

Multiple Choice

___ refers to the process of creating the goods and services

• production

• technology

• sales

• profit

Multiple Choice

A person who purchases goods and services is called a ___.

• consumer

• creator

• manufacturer

• retailer

Multiple Choice

Factors that influence production of goods and services are divided into ___ categories

• four

• three

• five

Multiple Choice

The ___ refers to the place where the production of goods and services happens.

• land

• labour

• capital

• operators

Multiple Choice

___ refers to members of the workforce that are involved in the production and sale of goods and services.

• land

• labour

• capital

• operators

Multiple Choice

This refers to the tools, machinery, factories, and office used to create goods and services

• land

• labour

• capital

• operators

Multiple Choice

___ play an important role during the final stages of production. It is their job to take completed product and deliver it to consumers.

• land

• labour

• capital

• operators

Multiple Choice

"Rubber to be used for eraser". Which factor that influence the production of goods and services does it belong to?

• land

• labour

• capital

• operators

Multiple Choice

"Comb in the salon". Which factor that influence the production of goods and services does it belong to?

• land

• labour

• capital

• operators

Multiple Choice

"The salon is located inside the mall". Which factor that influence the production of goods and services does it belong to?

• land

• labour

• capital

• operators

Multiple Choice

"Employees for the production of eraser". Which factor that influence the production of goods and services does it belong to?

• land

• labour

• capital

• operators

Multiple Choice

"Responsible for advertising the salon". Which factor that influence the production of goods and services does it belong to?

• land

• labour

• capital

• operators

Multiple Choice

"The eraser factory". Which factor that influence the production of goods and services does it belong to?

• land

• labour

• capital

• operators

Multiple Choice

"Chemicals to be used for eraser". Which factor that influence the production of goods and services does it belong to?

• land

• labour

• capital

• operators

Multiple Choice

"The hairdresser". Which factor that influence the production of goods and services does it belong to?

• land

• labour

• capital

• operators

Multiple Choice

"Machinery for eraser production". Which factor that influence the production of goods and services does it belong to?

• land

• labour

• capital

• operators

Multiple Choice

"Mirrors in the salon". Which factor that influence the production of goods and services does it belong to?

• land

• labour

• capital

• operators

Multiple Choice

"Responsible for shiping the eraser products". Which factor that influence the production of goods and services does it belong to?

• land

• labour

• capital

• operators

Multiple Choice

"Designers for the eraser". Which factor that influence the production of goods and services does it belong to?

• land

• labour

• capital

• operators

Multiple Choice

The delivery of a services or goods for a cost is also considered a ___.

• production

• sale

• management

• consumer

Multiple Choice

___ represents the scientific processes that can be used for the production and sales of goods and services.

• technology

• production

• service

• management

How To Grow Plants Indoor Without Soil

You can open this webpage in a new tab.

Copy link

Open in new tab

Multiple Choice

The use of technology in the production of goods helps increase product quality, and the capacity to produce large quantities.

• True

• False

Multiple Choice

In the production of goods and services, manufacturers will also take into account other factors that influence the production, such as the price of oil and other raw materials.

• True

• False

Multiple Choice

The expenses it costs to create a product directly affect the cost of the product for consumers.

• True

• False

Multiple Choice

Manufacturers want to keep the production costs higher so they can gain lower profits.

• True

• False

Multiple Choice

In general, if the products are of equal or similar quality, buyers prefer the product with higher price.

• True

• False

Multiple Choice

In general, the products with higher prices generate higher sales.

• True

• False

Multiple Choice

Reducing prices is one of the ways sellers can generate higher sales

• True

• False

Multiple Choice

Generally, consumers are willing to pay more to buy good quality products, as opposed to buying cheap low quality products.

• True

• False

Multiple Choice

Advertising will not enable consumers to be more familiar with products or services.

• True

• False

Multiple Choice

Advertising contributes to increasing the sales of products and services.

• True

• False

Multiple Choice

Generally, when consumers have large disposable incomes, they will spend more on goods and services.

• True

• False

Multiple Choice

On the contrary, consumers with low income will only choose products and services that are necessary.

• True

• False

Multiple Choice

Manufacturers have to consider consumer's tastes and preferences during production, and adjust their product accordingly.

• True

• False