Understanding Economic Concepts

Which term describes a system where people share goods and services instead of owning them individually?

• Sharing economy

• Business model

• On-demand access

• Investment opportunities

If a company wants to ensure its employees’ goals align with the company’s goals, it focuses on...

• Finite resources

• Aligning incentives

• Zero waste

• Collaborative consumption

What would a startup focus on when deciding how to generate revenue and provide value to customers?

• Business model

• Selfless actions

• Drive customer loyalty

• Aloof behavior

If a company wants to encourage repeat purchases and keep its clients, it should...

• Drive customer loyalty

• Have a knock-on effect

• Spread the word

• Make ends meet

What describes the use of online platforms that allow instant access to goods or services when needed?

• Zero waste

• Finite resources

• On-demand access

• Intuitive decisions

Which of the following refers to a system where people share access to products instead of owning them?

• Selfless economy

• Collaborative consumption

• Business model

• Conscientious marketing

Natural resources like fossil fuels and fresh water are examples of...

• Finite resources

• Investment opportunities

• Drive customer loyalty

• On-demand access

A system designed to eliminate waste by reusing and recycling materials is called...

• Zero waste

• Investment opportunities

• Spreading the word

• Aloof sustainability

If a company is looking for ways to grow financially, they are looking for...

• Zero waste

• Investment opportunities

• A helping hand

• Enterprising ideas

When someone is struggling financially but managing to survive, they are trying to...

• Face the day

• Make ends meet

• Have a knock-on effect

• Spread the word