S3 Revision Lesson

Which of the following is an example of consumer goods?

• Raw materials

• Machinery

• Television

• Factory equipment

Which of the following is an example of a need?

• A smartphone

• A designer handbag

• Water

• A video game console

Which of the following is a basic need?

• Jewelry

• Shelter

• Sports car

• Concert tickets

Which of the following best describes a "want"?

• A basic necessity

• A luxury item

• A survival tool

• A required resource

What does the second "L" in the factors of production stand for?

• Labor

• Land

• Lease

• Logistics

What does "land" refer to in a business context?

• The business's factory and/or offices

• The company's financial assets

• The employees of the business

• The marketing strategies used by the business

Which sector involves businesses that take natural resources and turn them into finished goods?

• Primary

• Secondary

• Tertiary

• Quaternary

Which sector includes construction activities?

• Primary

• Secondary

• Tertiary

• Quaternary

Why Provide good customer service?

• Gain a good reputation and increase new customers

• To have a High number of complaints to deal with and a demotivated staff

• To decrease sales and profits

• To give thje business a bad reputation

Why do companies use customer loyalty cards?

• To lose customers

• To decrease sales and profits

• To have less time dealing with complaints

• To motivate customers to use the business more and recommend the business to friends and family, thus increasing sales.