Font size
WorksheetsTEST Social Science (Unit 4): Economy and finance
Total questions: 42
Worksheet time: 21mins
What is the meaning of economic activity?
When people make and distribute products and services and we buy.
When people sell products.
When people buy products and services.
Production is.....
To transport the products from one place to another.
The creation of products and goods.
To go to the shops and buy.
What resources do we need to make products?
Natural and financial resources.
Enegetic resources.
Natural, human and financial resources.
The financial resources are....
The capital or money to pay workers and buy machines.
The people who work in a factory.
The natural resources are....
The capital or money.
The raw materials that we need to make products.
The people who work.
What is "distribution"?
Buying and using the products.
To carry the products to different places to sell them.
To make the products.
Which is the correct order in the economic chain?
1 distribution 2 production 3 comsumption
1 comsumption 2 production 3 distribution
1 production 2 distribution 3 consumption
In the market, which two forces are very important?
Supply and demand
Height and weight
Employ and wellness
When there is a lot of quantity of one product, its price.....
increases.
drecreases.
is the same.
When there is little quantity of one product, its price...
increases.
decreases.
is the same.
When a lot of people want the same product, its price.......
increases.
decreases.
Companies are associations of people created to produce goods or provide services.
True
False
There are five ways of classifying the companies.
true
false
Companies by economic activity:
primary sector, secondary sector, tertiary sector.
private companies and public companies.
small, medium or large.
Companies by size:
small, medium and big.
primary sector, secondary sector and tertiary sector.
Companies by where they are located:
local, regional, national and multinational.
small, medium and large.
private or public.
Companies by where their capital (money) comes from:
Public, private or mixed companies.
small, medium or large.
A small company has.....
less than 50 employees.
between 50 and 250 employees.
More than 250 employees.
A medium company has....
less than 50 employees.
between 50 and 250 employees.
more than 250 employees.
A large company has....
less than 50 employees.
between 50 and 250 employees.
more than 250 employees.
What is the meaning of individual ownership?
The company belongs to one person.
Two or more people share profits and losses.
What is a business partnership?
A company of 2 or more people that share profits and losses.
One person that earns money and pays expenses.
If you don't have money and you want to buy a house, you can ask the bank for a...
credit or loan
house
tax
If the banks lends you (te presta) money, is it free?
Yes, it is.
No, it isn't. You have to pay interests.
A tax is the amount of money that citizens have to pay to take care of the public administrations.
True
False
We have two types of taxes:
Direct and indirect taxes
Global and specific taxes
The VAT (Value Added Tax) or IVA in Spanish (Impuesto sobre el Valor Añadido) is a ...
DIrect tax: it depends on your income.
Indirect tax: everybody pays it in the same way.
What is the general type of VAT (IVA) in Spain ??
21 %
10 %
4 %
What is the reduced type of VAT (IVA) in Spain ??
21%
10%
4%
What is the super-reduced type of VAT (IVA) in Spain ??
21%
10%
4%
When we buy milk and potatoes, we pay the...... % of VAT (IVA).
21
10
4
When we buy clothes, we pay the...... % of VAT (IVA).
21
10
4
When we go to the cinema (cultural event), we pay the...... % of VAT (IVA).
21
10
4
When we buy medicines, we pay the...... % of VAT (IVA).
21
10
4
Direct taxes....
are connected to the income of a person.
aren't connected to the income of a person.
When we go to the theatre (cultural event), we pay the...... % of VAT (IVA).
21
10
4
Money is a fom of exchange to pay for products and services.
True
False
The "barter system" means...
intercambio
trueque
venta
A fixed expense ....
happens every month, like the electricity and water at home.
are different each mont, for example the free time activities.
Unexpected expenses..... (for example if your car breaks)
are predictable
are unpredictable
What are savings?
Money that people keep for the future.
Money that people waste.
Methods of payment NOWADAYS (HOY EN DIA)
cash
barter system (trueque)
credit card
online
