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The Economy

Total questions: 25

Worksheet time: 25mins

Name
Class
Date
1.

This sector includes activities that obtain resources and raw materials directly from nature.

a)

Primary

b)

Secondary

c)

Tertiary

d)

None of the options

2.

_________ is all the activities involved in producing, selling, and buying the products and services we require for our basic needs.

a)

Company

b)

Economy

c)

Trade

d)

Advertising

3.

The following processes make up economic activity, EXCEPT:

a)

Production

b)

Distribution

c)

Donation

d)

Consumption

4.

This economic activity includes all the activities needed to make a product or provide a service

a)

Production

b)

Distribution

c)

Donation

d)

Consumption

5.

True or False: Distribution includes buying and selling of a product or service to the customers

a)

TRUE

b)

FALSE

6.

Consumption includes buying and ________ of a product or service to the customers

a)

distributing

b)

provisioning

c)

selling

d)

transporting

7.

________ is an organization that offers products or services to customers in exchange for making a profit.

a)

Media

b)

Government

c)

Company

d)

School

8.

True or False: Profit is a financial LOSS

a)

TRUE

b)

FALSE

9.

To carry out economic activity, companies need the following resources, EXCEPT:

a)

Human Resources

b)

Material Resources

c)

Finnancial Resources

d)

Financial Resources

10.

Mining companies belong to which sector?

a)

Primary

b)

Secondary

c)

Tertiary

d)

Small Company

11.

The food industry belongs to which sector?

a)

Primary

b)

Secondary

c)

Tertiary

d)

None of the options

12.

A furniture company belongs to which sector?

a)

Primary

b)

Secondary

c)

Tertiary

d)

None of the options

13.

True or False: in the tertiary sector, companies provide services e.g. a restaurant, a shop.

a)

TRUE

b)

FALSE

c)

Not Sure/ I Dont Know

14.

How many employees do small companies have?

a)

Between 50 to 100

b)

Less than 50

c)

250 or more

d)

Between 75 to 100

15.

________ companies have more than 250 employees

a)

Small

b)

Medium

c)

Large

d)

Retail store

16.

Which department employs and manages the company's employees

a)

Purchases

b)

Production

c)

Human Resources

d)

Marketing

17.

This department creates advertising for products and services of the company

a)

Purchases

b)

Production

c)

Accounts

d)

Marketing

18.

True or False: Advertising is giving people information about a product or a service using advertisements; advertisements are special messages.

a)

TRUE

b)

FALSE

19.

This advertising technique associates the product with a famous person (e.g. Rosalia) or a well-known song (mercadona song)

a)

Repetition

b)

Exaggeration

c)

Association

d)

Promotions

20.

When you go to ALDI and you notice products with special discounts, this advertising technique is called:

a)

Repetition

b)

Exaggeration

c)

Association

d)

Promotions

21.

TRUE or FALSE: Money has existed since the beginning of time.

a)

TRUE

b)

FALSE

22.

The money that we earn is called:

a)

Credit

b)

Barter

c)

Payment

d)

Income

23.

_______ is a plan for spending income.

a)

Barter

b)

Payment

c)

Budget

d)

Expenses

24.

The money that we keep for the future is called?

a)

Barter

b)

Expenses

c)

Savings

d)

Budget

25.

After 5 years of working for Bankia, Jose decided to open a restaurant business. This action is called:

a)

Bartering

b)

Budgeting

c)

Saving

d)

Investing