WorksheetsBusiness and Economics
Total questions: 23
Worksheet time: 35mins
Describe in your own words what a business is?
Click the option that is a good
Paying for a surfboard lesson
Paying for new bathers
Paying for a doctors appointment
Click the option that is a service
Purchasing pumpkin scones
Paying for braces
Paying for a haircut
What is a customer
Someone who pays for goods or services from a business
Someone who makes custom t-shirts
An entreprenuer
Making and selling within a business often occur at separate locations. Please give an example below.
The three main reasons businesses exist are
To provide goods, to make money, to work for themselves
To provide services, to provide employment, to pick their own roster
To provide goods and services, to make a profit, to provide employment
What is a not-for-profit organisation?
A business that provides goods and services and keeps all its profit to itself, not sharing with employees
A business that provides goods and services and is run without the goal of making a profit for its members
A Primary Industry is one that is involved with...
growing and extracting raw materials
manufacturing and construction
providing goods and services to consumers/other businesses
A Tertiary Industry is one that is involved with
manufacturing and construction
growing and extracting raw materials
providing goods and services to consumers and other businesses
A Secondary Industry is one that is involved with
manufacturing and construction
providing goods and services to consumers and other businesses
growing and extracting raw materials
Click the job role that best suits someone who works in the Secondary Industry
Hairdresser
Carpenter
Commercial fisherman
Click the job role that best suits someone who works in the Tertiary Industry
Plumber
Digger
Mechanic
Click the job role that best suits someone who works in the Primary Industry
Gold panner
Sales assistant
Factory worker
Click the option from the list below that IS a not-for-profit organisation
Prouds Jewellers
PCYC (Police and Community Youth Centres)
North Kalgoorlie Primary School
A trade-off is made when...
When you make a choice about how to spend your time or money, the value of the next best alternative is called
(a)
Give an example of a time when you made a decision that involved a trade-off. Explain the opportunity cost that occurred.
Answer questions about the following scenario.
Imagine a kitchenware business wants to make its shop look more appealing. It is trying to decide whether to spend money on new lighting or display tables. The current lighting is a little dull but still works perfectly. The current display tables wobbly. One recently collapsed and almost injured a customer.
What is the opportunity cost of choosing NOT to replace the tables?
Answer questions about the following scenario.
Imagine a kitchenware business wants to make its shop look more appealing. It is trying to decide whether to spend money on new lighting or display tables. The current lighting is a little dull but still works perfectly. The current display tables wobbly. One recently collapsed and almost injured a customer..
What do you think the businesses priority (top focus) should be and why?
What is a resource?
Something of value that can be used to achieve or acquire something
Something you can buy
Something you can touch and hold
Give two examples of natural resources a cafe might use.
Give two examples of capital resources (machinery, tools, buildings) a cafe might use.
Give two examples of human resources a cafe might use.
