SECTION 10 1/2

Multiple Choice

What is the relationship between economic indicators and standard of living?

• Economic indicators have no relation to standard of living

• Positive economic indicators usually mean a higher standard of living

• Economic indicators only affect the wealthy

• Negative economic indicators mean a higher standard of living

Multiple Choice

What are the factors that indicate a country's standard of living?

• Level of consumption of goods and services

• Average disposable income of the population

• Access to modern technology

• Level of investment in research and development

Multiple Choice

Why is access to healthcare considered a critical component of quality of life?

• It ensures a healthier workforce

• It directly impacts life expectancy and well-being

• It is not considered critical by most economists

• It only benefits the elderly population

Multiple Choice

What is the difference between standard of living and quality of life?

• Standard of living is a qualitative measure

• Quality of life is a quantitative measure

• Standard of living is a measure of happiness

• Quality of life is a measure of income

Open Ended

Define the term "Economic Growth".

Open Ended

Define the term "Economic Development".

Multiple Choice

What is the main difference between economic growth and economic development?

• Economic growth focuses on quantitative measures, while economic development focuses on qualitative aspects.

• Economic growth is concerned with income distribution, while economic development is not.

• Economic growth is a long-term process, while economic development is short-term.

Multiple Choice

What are the factors affecting economic development and economic growth?

• Rate of investment

• Rate of increase in the working population

• Technical training and expertise

• Government Expenditure

Multiple Choice

GDP is an important economic measurement because it

• provides valuable data on unemployment rates.

• provides valuable data on inflation rates.

• measures the value of final goods and services produced by a country.

• measures only the exports of a country

Multiple Choice

What are the contributions of education to economic growth and development?

• Producing a productive workforce

• Providing skilled personnel required by employers

• Achieving economic growth through training of people

• Fostering the development of a creative, innovative workforce

Open Ended

Define the term "international trade."

Multiple Choice

Which of the following is a way in which technology has changed the way business operate?

• Employees are sometimes able to telecommute

• productivity has decreased, and costs have increased

• entering new and foreign markets has become more complex

• the nature of marketing has remained relatively the same

Multiple Choice

What are some reasons for international trade?

• Lack of natural resources

• High production capacity

• Abundant climate for all crops

• Technological advancement

Multiple Choice

Which of the following is NOT true about technology?

• It can improve productivity.

• It's always good for everyone.

• It can create new markets.

• It can reduce costs.

Open Ended

Explain the concept of "business technology."

Multiple Choice

What is the role of ICT (Information Communication Technology) in business?

• To help individuals and organizations use information

• To limit the use of digital technology

• To create barriers in communication

• To reduce the efficiency of businesses

Multiple Choice

What are the benefits of using Automatic Teller Machines (ATMs) and Automated Banking Machines (ABMs) in banking?

• They allow for cash deposits only

• They facilitate both deposits and withdrawals

• They require a bank visit for transactions

• They are only available in banks

Multiple Choice

What are the benefits of online banking for customers?

• Access accounts from anywhere

• Higher fees

• Limited transaction types

• No customer support

Multiple Choice

What are the two main categories of technology used in a business as mentioned in the image?

• Traditional Technology

• Digital Communication Technologies

• Productivity Tools

• Specialist Applications

Multiple Choice

The term Management Information System (MIS) is best defined as...

• A system that provides information to support marketing functions within an organization.
• A system that provides information to support decision-making and management functions within an organization.
• A system that tracks employee attendance and payroll.
• A system that focuses on inventory management in a retail setting.

Multiple Choice

What are the key differences between e-commerce and e-business?

• E-commerce focuses on sales and customer service

• E-business includes internal processes

• E-commerce is more complex than e-business

• E-business only involves online transactions

Multiple Choice

Which of the following is NOT a way in which technology can improve business?

• Speed and saves on time

• Easier storage of information

• Improved sharing of information

• Increased employee workload

Poll

Which technological strategy do you think is the most effective?

• Robotics

• Artificial Intellengience

• Online Services

• Automated Production Lines

• Computer aided design

Multiple Choice

Which of the following is a reason for a retailer to use technology?

• Make tasks slower and more difficult to complete

• Enable data collection to help them understand buying behaviors

• Hinder communication with customers

• Identify and maximize business risks and liabilities

Multiple Select

What are the consequences of unethical use of ICT?

• Security

• Privacy

• Intellectual Property Infringement

• Impact of humans

• Distraction

Poll

How confident do you feel about this topic now?

• Very confident
• Somewhat confident
• Not confident