Font size
WorksheetsYear 8 SEAL Economics Refresher
Total questions: 10
Worksheet time: 5mins
The best option I miss out on every time I make an economic choice is called...
A mistake
An opportunity cost
Scarcity
Competitive Advantage
The amount added to the cost of a product to cover expenses and ensure the business makes a profit is called...
an expense
profit
revenue
percentage markup
A business that is recognised as a legal entity separate from its owners is called a...
(a)
An entrepreneur often experiences...
an innovative business idea
standard working hours
a guaranteed regular paycheck
on the job training
An example of 'enterprising behaviours' includes...
giving up easily
finding unusual solutions to problems
finding secure, regular work
watching TV
Being able to empathise and connect with others in the business environment is broadly referred to as having good (a) skills.
The percentage charged by banks on business loans, usually paid on a monthly basis is called...
Profit
Investments
Capital
Interest
A direct relationship between the quantity of good available on the market and the price of those goods is called the law of...
SUPPLY!
DEMAND!
Founder Ray Kroc felt McDonald's could be a global franchise because it was able to compete on... (tick all that apply)
Quality
Speed of production
Price
A slow, peaceful dining experience for customers
Developing visual materials to help the business stand out from its competitors is called..
Showing off
Good business practice
Branding and imaging
Market segmentation
