Unit 3 Org Eco part 1

Which is the main purpose of the economy?

• To satisfy people's material needs
• To create goods and services
• To promote responsible consumption
• To regulate supply and demand

What are goods in economic terms?

• Intangible products
• Services
• Tangible products
• Secondary needs

What are services in economic terms?

• Tangible products
• Physical merchandise
• Intangible products
• Primary needs

What do primary needs refer to?

• Goods and services necessary for survival
• Secondary needs
• Goods and services that improve wellbeing
• Goods and services for luxury

What is responsible consumption about?

• Choosing environmentally friendly models
• Buying more goods and services
• Ignoring advertising
• Promoting overconsumption

Who are the producers in the economy?

• People who create goods and services
• People who buy goods and services
• People who promote responsible consumption
• People who regulate supply and demand

What does the demand represent in the economy?

• The amount of goods available
• The quantity of goods producers wish to sell
• The quantity of goods consumers wish to acquire
• The amount of money available for goods

What are the three phases of economic activity?

• Production, Distribution, Consumption
• Supply, Demand, Distribution
• Goods, Services, Consumption
• Primary, Secondary, Tertiary

How many main economic sectors are there?

• Two
• Three
• Four
• Five

What does the primary sector involve?

• Providing services
• Transforming raw materials into goods
• Extracting raw materials from nature
• Advanced scientific and technical activities