DEFINITIONS
GIVE THREE EXAMPLES
TYPES OF COMPANIES
BUYING PRODUCTS
BUDGETS AND CHARTS
100
Define high order products.
These are products that have a high price and we don't buy regularly.
100
Give 3 examples of high order products.
Cars, houses, fridges, clothes, electrical products, etc.
100
Name four types of companies.
Sole traders, partnerships, corporations, collectives.
100
What two things do we usually spend money on?
Consumer products and services.
100
What two types of budgets are there? Explain.
Household budgets, which are used for food, clothes, and holidays AND business budgets, which businesses use to spend on raw materials and products.
200
Define low order products.
These are products that we buy every week that have a lower price than high order products.
200
Give 3 examples of low order products.
Food and drinks, medicines, personal hygiene products, etc.
200
What is a sole trader?
A sole trader owns and directs his or her own company.
200
Can you buy high order or low order products in a town centre?
High order products
200
What is an organizational chart?
It shows how a company is organized.
300
Define "budget."
The amount of money that we have to spend. They help us control our spending.
300
Give 3 examples of places we can spend money.
Town centres, shopping centres, and the Internet.
300
What is a partnership?
A company where two or more people own and direct a company together.
300
Can you buy high order or low order products in a shopping centre?
Both
300
Where does the most important job appear on an organizational chart?
At the top
400
Define 'companies.'
Companies provide a product or a service in order to make money.
400
Give 3 examples of ways to save money when we're shopping.
Using coupons, buying high order products on sale, buying own brands of some products, buying low order products in large quantities, etc.
400
What is a cooperative?
A company where all the people working in the company own it together.
400
Can you buy high order or low order products on the Internet?
Both
400
How can we analyze a budget?
By looking at a person's spending and saving habits.
500
Define 'multinationals.'
Corporations that are very big and operate in many countries.
500
Give 3 or 4 steps to making a budget.
1. Make a list of the products we need, 2. calculate the total amount we can spend, 3. make a shopping plan by comparing products, 4. go shopping.
500
What is a corporation?
A company owned by the people who have shares in the company. Senior employees direct the company.
500
Give an example of a corporation.
McDonald's, Apple, Microsoft, etc.
500
What do jobs at the same level in an organizational chart mean?
Similar levels of responsibility.
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