Which is the correct definition of consumer?

• individuals or businesses that buy goods and services,

• individuals or businesses that consume or use goods and services

Which is the correct feature of a good?

• Tangible

• Intangible

• It cannot be touched

Correct definition of a need

• Essential for survival

• Needed e.g. water, air

• Something we desire but can live without

Odd one out?

• Farm

• Bakery

• Coal Mine

• Oil Fracking

The school is in which sector?

• Primary Sector

• Secondary Sector

• Tertiary Sector

Which are characteristics of an entrepreneur?

• To be their own boss, earn more money, flexible working hours

• risk taker, creative, hard-working

• to be their own boss, creative, risk-taker

• someone who takes a risk by starting a business

2 reasons for starting a business...

• To take a risk, to make more money

• to have guaranteed income, to work longer hours

• to be your own boss, to take a risk

• to be your own boss, to have flexible working hours

Click on all the stakeholders

• Shareholder

• Customer

• Government

• Competitors

What is the difference between aims and objectives?

• Aims are more specific goals, Objectives are more general

• Aims are short term, Objectives are long term

• Aims are more general strategies, Objectives are how to achieve the aim

1.

Machinery is an example of which factor of production:

• Land

• Labour

• Capital

• Enterprise