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WorksheetsCommerce 101
Total questions: 15
Worksheet time: 10mins
A business that mines iron ore operates in which industrial sector?
Tertiary
Secondary
Primary
Banking
This is a
Product
Service
Help
Which one of the following is used to describe manufactured resources?
Capital
Factors of Production
Natural Resources
Human Capital
What is the law of demand?
(Choose two answers)
When the demand decreases, price increases.
When the demand increases, supply decreases
When the demand decreases, supply increases.
When the demand increases, price decreases
a business where business decisions can be shared ...
Sole trader
Partnership
Franchise
The person who brings together factors of production to produce goods/services.......
Buyer
Seller
Entrepreneur
manufacturer
What is production?
Is when a business performs a trading activity.
Is the organized activity of transforming the resources into finished products in the form of goods and services.
Is the exchange of raw materials between two people, businesses or organizations.
Is when a person concentrates in what they do best.
Is the organized activity of transforming the resources into finished products in the form raw materials.
Firms spend a large amount on ……………………………………….to increase sales
(a)
In a channel of distribution, the middleman between the wholesaler and the consumer is ………………………………
(a)
In -------------------------------- customers can drop in the money in machine and acquire the products.
(a)
Communication between the people within the organization is known as…………………………………
(a)
What is the correct statement about economics?
Distribution of resources
Satisfying unlimited wants
Encourage demand for more goods and services
Creation and distribution of wealth
Which one is not a disadvantage of division of labour
Workers can become bored
Repetitive task
Manufactured goods are standardised
Training for jobs is quicker
In an organization, which method of communication will be used to give a last warning to an employee?
Memorandum
Telephone
Letter
Text message
The links between different stages of production is shown by the ………………………………………………
(a)
