Year 8 Economics and Business Vocabulary

The activity of making money by producing or buying and selling products...

• Economics

• Business

• Market

• Profit

A Wage is...

• A person who owns shares (part of or a portion) in a company.

• A sum of money given by a government or other organization for a particular purpose.

• The amount of money that a person is paid in exchange for the work that they do.

• The group of people who are employed.

Someone who takes on the risk of starting their own business after seeing an opportunity or having an idea for a new business is...

• a shareholder

• an entrepreneur

• a sole trader

• an economist

A project undertaken that is important or difficult, and requires a bold approach is known as...

• a grant

• a franchise

• a partnership

• an enterprise

A social enterprise is...

• a form of business where two or more people share ownership, as well as the responsibility for managing the company and the income or losses the business generates.

• a sum of money given by a government or other organization for a particular purpose.

• a business that trades to intentionally tackle a social issue.

• a system where parties offer their goods and services in exchange for money

The duty to conduct business in a manner that benefits people, the community or the environment is known as...

• social responsibility

• strategy

• an entrepreneur

• economics

Which of the following businesses is NOT a social enterprise?

• TOMS

• Thank you Water

• IKEA

• St Kilda Mums

True or False - Food Waste is an economic problem

• True

• False

Which of the following is a social enterprise that addresses the problem of providing clean drinking water to people all over the world?

• Ben and Jerry's

• OzHarvest

• Fareshare

• Thank You Water

True or False: Social Enterprises are only interesting in making a profit for their shareholders.

• True

• False