Commerce Grade 9

What is the main difference between needs and wants?

• Needs are unlimited, wants are limited

• Needs are for survival, wants are for desires

• Wants are more expensive

What is mass production?

• Producing in factories only

• Producing small batches of goods

• Producing millions of units

Which of the following is an intermediate good?

• Loaf of bread

• Pair of shoes

• Bulldozer

Which is a direct service?

• Transport

• Hairdressing

• Advertisement

What is the main advantage of using machinery over human labor?

• Machines require more training

• Machines are 100% accurate

• Machines take more breaks

Which is NOT one of the four factors of production?

• Labor

• Capital

• Rent

What type of capital is a factory?

• Circulating

• Fixed

• Liquid

Who takes business risks and organizes production?

• Consumer

• Retailer

• Entrepreneur

Which sector involves turning raw materials into goods?

• Primary

• Secondary

• Tertiary

Which sector sells products to consumers?

• Primary

• Secondary

• Tertiary