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Economic activity

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  • How many people do large companies have?
    More than two hundred and fifty people work there
  • What two things performs economic activity?
    Companies and Consumers
  • What is consumption?
    The use and enjoyment of products
  • What produces, distributes, and sells products to make a profit?
    Companies
  • What is a public company?
    The capital belongs to the government but the companies meet public needs
  • What are the three types of expenses?
    Fixed, Variable, Unexpected
  • What is consumption?
    The use and enjoyment of products
  • What is the barter system?
    was used during the Classical Antiquity, goods were exchanged fo other goods without using money
  • How can companies be classified based upon the origin of their capital?
    Private, Mixed, and public companies
  • What are companies dedicated to providing services to satisfy needs: financial, education, health, transport etc
    Services
  • T or F: Large companies have between fifty and two hundred and fifty people working there
    False
  • Which type of companies capital belongs to the government but the companies meet public needs?
    Public company
  • What do companies do?
    produce, distribute, and sell products for a profit
  • Who are people who buy companies products?
    Consumers
  • Who are consumers?
    People who buy a companies products
  • How many people do medium sized companies have?
    Between fifty and two hundred and fifty people work there
  • What are companies that are dedicated to extracting natural resources and transforming them into other products?
    Industry
  • True or False: The Three types of expenses are Fixed, Expected, and Unexpected
    False!
  • T or F: Consumption is the creation of products
    False
  • True or False: We should let advertising influence us
    False
  • T or F: Production is the transfer of products
    False
  • What are savings?
    Money that we don't spend but save for future needs
  • T or F: In Mixed companies the capital belongs to the people who work for the company
    False
  • What are the components of economic activity?
    Production, Distribution, Consumption
  • How many people do small companies have?
    Fewer than fifty people work there
  • What is a private company?
    The capital belongs to the people who work for the company
  • True or False: Distribution is the transfer of products
    True
  • What is production?
    The creation of products
  • What are companies that are dedicated to purchasing and selling products?
    Trade
  • True or False: Economic activity is when people perform tasks to cover their needs, such as food, clothing, and services
    True
  • T or F: Distribution is the creation of products
    False
  • What is Economic activity?
    When people perform tasks to cover their needs, such as food, clothing, services
  • What is a mixed company?
    Created with capital from individuals and the government
  • What is used to convince us we really need something?
    Advertising
  • T or F: Small companies have more than two hundred and fifty people working there
    False
  • What is distribution?
    The transfer of products
  • What do we use money for?
    To purchase products and goods
  • True of False: Before purchasing a product we must determine if we really need it
    True
  • What 3 things can companies be classified into based on size?
    Small, medium- sized, large
  • What is it called when goods are exchanged for other goods with using money?
    the barter system
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