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WorksheetsDECA Economics
Total questions: 12
Worksheet time: 9mins
What is Economics?
The study of how people use society’s limited resources to satisfy their wants and needs in a way that achieves maximum output
The management of large amounts of money, especially by governments or large companies
An asset or item acquired with the goal of generating income or appreciation
An organization or enterprising entity engaged in commercial, industrial, or professional activities
Economic activity includes ... (Select all that apply)
The production of goods and services
The distribution of goods and services
The consumption of goods and services
Learning about the market
Economic resources are the (a) we use to produce goods or provide services
Examples of goods are ...
Food, Clothing, Travel, Toys
Technology, Law Firms, Furniture
Food, Technology, Appliances
Cleaning, Movies, Healthcare
Goods are (a) products that directly satisfy the wants or needs of the customer
What is Capital? (Select all that apply)
A share that entitles the holder to a fixed dividend, whose payment takes priority over that of common-stock dividends
The resources companies use to purchase land, natural resources, and other capital goods
The major physical assets individuals and companies need to operate
A city
Capital goods - Technology needed to produce ..... ... ........
(a)
Definition of Fixed Capital (Select all that apply)
The assets that are needed to conduct the business
Examples include machinery and tools
The money spent on living labour power
Examples: Patents, Property, Factories, Headquarters
What does the downwards slope on the x-axis mean? (In terms of supply and demand)
Rise of demand
Reduction of demand
Rise of supply
The stock market has crashed
The means by which countries and governments distribute resources, trade goods and services
Economic systems
Customer Service mindset
Welfare
Chairity
Did you guys have fun during today's lesson?
Most certainly! Definitely. No way I wouldn't have fun
Yeah!
Ehhh, a bit boring
No...
:(
Are there any suggestions you have for future meetings?
