Concepts
Where the exchange of goods and services take place
Market
The type of market where goods and services are sold to consumers in exchange for money.
The Retail Market
The type of business where one person owns a business and makes all the decisions about the business.
A Sole Trader
What is the largest planet in the solar system?
Jupiter
What is the name of the first book/movie in the Harry Potter series?
Harry Potter and the Philospher's Stone
The idea that we have unlimited wants and needs but only a limited number of resources available to produce them.
S__________
Scarcity
The type of market where workers sell their skills, knowledge and effort to employers in exchange for an income.
The Labour Market
In this type of business, the company is owned by a small number of people (2-20) who have equal share of profits and responsibility of decision making
A Partnership
What is the largest ocean in the world?
The Pacific Ocean
Name at least three of the Avengers
Thor, Iron Man, Capitan America, Hulk, Black Widow, Hawkeye, Falcon, Spiderman, War Machine (Iron Patriot) etc
As consumers, we are constantly making decisions about where we spend our money, and what we spend it on.
This is called m______ c_________
Making Choices
The market where consumers participate in the buying and selling of houses and commercial buildings such as shops.
The Housing Market
A type of business that is very large and has many different employees
A corporation
How many bones are in the human body?
206
What is the name of the town where Stranger Things is set?
Hawkins, Indiana
The concept that all participants in the economy are connect to each other through the buying and selling of goods and services
Inter__________
Interdependence
Wholesale Market
Similar to a partnership, where a number of people all have equal ownership of a business, but they are not personally legally responsible for the business.
A Corporation
What is the tallest mountain in the world?
Mount Everest
What is the longest running animated television series
The Simpsons
What are the missing words?
S__________ is when a nation chooses to focus on one (or more) particular good or service to produce to maximise their profits.
T_____ is where a nation will import a product from another nation, or export a product to another country.
Specialisation and Trade
A market where companies sell shares of their business
The Stock Market
A type of business where a parent company allows individuals to own their own versions of the company for a period of time.
A Franchise.
Which country gifted the Statue of Liberty to the USA?
France
What is the name of the chicken in Moana
Hei Hei