Business and Economics Quiz

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.