Grade Seven

Which sector of production involves the extraction of natural resources?

• Primary sector

• Secondary sector

• Tertiary sector

In which sector of production raw materials get processed?

• Primary sector

• Secondary sector

• Tertiary sector

Which type of labour requires the use of human intelligence?

• Mental labour

• Physical labour

Quantity of goods and services desired by buyers is:

• Demand

• Supply

Anyone directly or indirectly related to a specific business is a:

• Stakeholder

• Shareholder

Basic necessities of life are:

• Needs

• Wants

A place where sellers and buyers meet.

(a)  

Workers specialising in a particular task is:

(a)  

Both private and public sectors play an important role in:

• Market economy

• Mixed economy

• Planned economy

A one person business with unlimited liability is:

• Sole trader

• Partnerships

• Limited company