From Dirt to Dollars
This type of production involves taking natural resources from the earth.
What is Primary production?
A student makes bracelets only for herself. Identify the level of production.
Subsistence
Identify the safest method of payment when shopping online.
Credit/debit card / online banking
Why is distribution important to consumers?
Makes goods available
Why do retailers buy from wholesalers instead of producers?
Bulk buying, variety, convenience
This type of production turns raw materials into finished goods.
What is Secondary production?
A bakery sells only within Freeport. Identify the level.
Domestic
Why is cash not suitable for large business transactions?
Risk of theft, no record, unsafe
Identify TWO functions of distribution.
Transport, storage, selling, packaging
Identify TWO services wholesalers provide to retailers.
Storage, bulk breaking, transport, credit
This type of production provides services like teaching and banking.
What is Tertiary production?
A company produces water for sale across The Bahamas.
National
A customer pays using a card linked directly to their bank account.
Debit card
A company stores goods before selling. Name this function.
Warehousing
Distinguish between a specialist and a general wholesaler.
Specialist sells one product; general sells many
Fishing, mining and farming are examples of this type of production.
What is Primary production?
A business exports hot sauce to the USA and Canada.
International
State TWO advantages of electronic payments over cash.
Safer, faster, records, convenient
Explain how transportation adds value to a product.
Moves goods to where customers are
Analyse why supermarkets are more successful than small shops.
Lower prices, variety, convenience
A business extracts sand, turns it into glass, and sells it in stores. Identify all three types of production in order.
Primary → Secondary → Tertiary
Explain ONE advantage and ONE disadvantage of international production.
Advantage: larger market, more profit. Disadvantage: high costs, exchange risk.
A business accepts only cash. Analyse TWO risks this creates.
Theft, no transaction record, fraud, loss
Analyse how poor distribution can affect a business’s profit
Delays, spoilage, lost customers, lower sales
A wholesaler bypasses retailers and sells directly to consumers. Discuss TWO effects of this.
Retailers lose sales; wholesaler gains more profit but more responsibility