Introduction to Economics Pt 1

(a)   -economics is the study of how specific groups of people deal with scarcity.

a (a)   is a place where any contact or communication between buyers and sellers to exchange goods & services takes place.

What does JSE stand for?

• Johannesburg Stock Exchange

• Johannesburg Securities Exchange

• Johannesburg School of Education

• Judicial Services Exchange

Tick all the alternative words we use to refer to shares.

• ‘equities’

• 'stock'

• 'dividends'

• 'Board of directors'

What does it mean to own a share?

• You are allowed to attend and vote at the AGM

• Have the right to receive annual and interim financial

  reports of the company

• You are entitled to a share of the profit of the company, known as 'dividend' if a dividend is declared.

• The company MUST hire you if you have the right qualifications.

A (a)   market referes to a period of consistently

RISING share prices. The majority of share prices are increasing and the market is improving

A (a)   market refers to a period of consistently FALLING share prices. Majority of shares are dropping, and market is declining, usually by 15% or more

(a)   exists because we have insufficient resources to satisfy our needs and wants

Things of value, such as machines and tools, that are used to produce other goods are called...

• Capital goods

• Secondary sector

• Primary sector

• Labour

The basic economic problem that all people and nations face is...

• scarcity

• economics

• abundance

• poor healthcare