business quizizz because kahoot is broken

how many factors of production are there?

• 2

• 8

• 6

• 4

what are the factors of production?

• capital, endorsement, land, lamb.

• celery, enterprise, land, labour.

• capital, enterprise, land, labour.

• capital, enterprise.

what is the correct definition of added value?

• selling a product or service for more than what it costs to make the product

• producing goods and services for a cheap price and selling them for cheaper

• raising prices in order to get larger profit

• buying cheap goods

what is scarcity?

• there are too many goods and services to meet the wants of the population

• there aren't enough goods and services to meet the wants of the population

• the benefit that can be made for using materials in a different manner

what is an economic problem?

• unlimited wants can be met due to having unlimited resources

• unlimited wants can't be met due to having limited resources

• unlimited wants can be met due to having limited resources

Tabitha owns a cup cake shop in discovery bay, right next to Sam's cricket shop. she wants to have a shop in central and she needs to employ staff members as her work load is too much already, what is the benefit of creating a shop in central?

• costs more money to run two shops

• having two shops provides her with less customers

• having two shops will increase brand awareness and influence on other parts of Hong Kong, leading to having more customers

what is specialisation

• focus on doing maintenance

• doing a wide spread amount of jobs and production

• focusing on one specific product and only producing what you are best at

• making products

bill is a soul trader selling sea shells on the sea shore, what sector would bill be in, if he doesn't collect the shells, but instead sells them to privately owned business to sell publically?

• tertiary

• secondary

• primary

is bill, the sole trader, in the private, or public sector?

• private

• public

bill and raj, a shell boutique seller decide to integrate their companies. what type of integration is this?

• horizontal

• vertical

• conglomerate