8 EMS: Markets

The correct term for where buyers and sellers interact is called a:

• Market

• Shop

• Business

• Factor of Production

There are ... Factors of Production.

• 2

• 3

• 4

• 5

Interest is the remuneration for which Factor of Production?

• Land

• Labour

• Capital

• Entrepreneurship

Rent is the remuneration for which Factor of Production?

• Natural Resources

• Labour

• Capital

• Entrepreneurship

Profit is the remuneration for which Factor of Production?

• Natural Resources

• Labour

• Capital

• Entrepreneurship

This market is where employees offer their services to employers in exchange for remuneration.

The ... market is where banks and lending institutions would operate.

• Capital

• Raw Materials

• Labour

• Illegal

True or False: Goods like bread, milk and toothpaste are intangible.

• True

• False

Select the correct answer/s: Pick n Pay would be:

• a legal business

• in a fixed location

• required to pay tax

• able to sell anything illegal

A family doctor in your area who runs her own practice would be part of the:

• national market

• local market

• international market

• combination market