WorksheetsMarket Type Quiz
Total questions: 20
Worksheet time: 20mins
In Economics, what is a market?
Where buyers and sellers interact with each other in order to buy and sell things of value. Those things include goods and services.
Where you go to buy fruits and vegetables
A place where you are able to find every single stock for any business in the world
Where buyers go to ensure that they are getting the best possible deal on the goods or services that they want/need.
What is sold on the labour market?
sellers sell goods they have made themselves under fairtrade
buyers sell their time and opinion
workers sell their skills, knowledge and effort
houses
What is a landlord?
A landlord is the person in charge of all of the land
A landlord is the owner of a property that is leased out to a tenant.
A landlord is the Prime Minister
A landlord is a person who rents out a space/house
How do landlords earn income?
From the rent paid by the tenant.
From the sale of their homes
By buying multiple houses in multiple states
By asking nicely
Where are the shares of large companies listed in Australia?
Australian Stock Market
Wall Street
Australian Securities Exchange
ASR
What does the employer pay a worker in exchange for their service?
Bitcoin
Income
Profit
Wage
Jenny has hundreds of stuffed animals to sell. The stuffed animals are considered the _________.
supply
demand
buyer
seller
What is profit?
the money you have left over after you paid your bills
how many people want your good/service
the amount of an item you have
none of these
Basic things humans need to survive
need
want
import
demand
Extras that make life more enjoyable
want
need
producer
savings
What is the largest market in the world?
Elizabeth Street Markets
Foreign Exchange Market
Wall Street
ASX
What is sold on the foreign exchange market?
The delicacy from each country
Different currencies from around the world
The rights to landmarks
Native plants
What is the name of the act setting out the rules that buyers and sellers have to follow?
Consumer Law (2019)
Social Responsibility
Competition and Consumer Act (2010)
Act of Selling and Buying (2001)
What is the name of the authority enforcing the act that protects buyers and sellers?
Competition and Consumer Act (CCA)
Australian Consumer Protection Act (ACPA)
Australian Competition and Consumer Commission (ACCC)
Australian Protection of Sales Act (APSA)
What is meant by a businesses social responsibility?
Their commitment to people and the environment
Their commitment to make people happy
Their commitment to be a part of the wider community
Their commitment to ensuring that they stay profitable
