Economic Systems
Flow Chart:
What is Economics all about ?
Economic Systems
1. Define “Economics” (p.104 – green writing)
2. Why are Goods and Services important to us ?
3. What is the difference between “Goods” and “Services” ?
4. Define “Scarcity”
Participating In The Economy
1. Define the following:
a) consumers b) Wholesalers & Retailers c) Advertisers
d) Market Researchers e) Researchers & Developers
f) Producers g) Entrepreneur
2. List 4 special skills that an Entrepreneur possesses.
3. What is a FRANCHISE ? Give a good example.
4. What is COLLATERAL ?
All Consumers Are Not Equal
1. What is the G.N.P. ? What is it an indicator of ? What does it tell
us about the consumer ?
Economics and the Environment
1. List 3 ways that the “richer” nations of the world are damaging the
environment.
2. Why is it that THESE richer nations do more environmental damage ?
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