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The department in charge of hiring or training the employees is called...
human resources.
If someone doesn't have an employer it is known as...
a self-employer.
Finance, human resources, marketing, research & development and productions are...
the different departments that businesses usually have.
The business deparment in charge of the budget is called...
finance.
What do businesses should protect and respect?
Businesses should protect and respect their employees' rights.
What SME types do we know?
Family businesses, cooperatives and limited-liability companies (LLC).
Businesses with more than 250 employees are called...
large enterprises.
What do bussineses often do with other businesses that offer similar products?
They compete trying to become the best brand.
What is the result of inflation?
The result is that you need more money to buy the same product than you needed before.
How do we call the general increase in the prices that is persistent?
We call it inflation.
In which system is sustained inflation common?
In growing economies.
What do consumers do according to the law of demand?
Consumers buy more of a product when the price is lower.
What is established when supply and demand are equal?
It is establish the final market price or the equilibrium price.
What law is it when producers charge higher prices to increase their profits?
It is the law of supply.
Explain the meaning of demand.
Demand is the quantity of goods or services that consumers want to buy at a certain price.
How is it called the quantity of goods or services that producers offer at a certain price?
It is called supply.
Where can producers and consumers exchange goods and services?
Producers and consumers can exchange goods and services in the market.
What economic sector do factory workers or artisans belong to?
They belong to the secondary sector.
What economic sector do teachers and doctors belong to?
They belong to the tertiary sector.
What is the diagram representing?
The circular flow of economic activity.
Name two examples of technological capital.
Software and websites.
Who is in charge of raising cattle, pigs or chickens, primarily for food?
Livestock farmers.
What instrument is it used in river fishing?
It is used a fishing rod.
What do you need to have a credit card?
You need to open a current account.
When you spend less than you earn, you can...
save the extra money.
What type of payment you do when you borrow the money from the bank to buy something?
Paying by credit.
How is it called a loan from the bank for buying a house?
It is called a mortgage.
What is the meaning of loan?
A loan is a temporary credit.
________________ is a payment that you make for goods or services with the money you carry with you.
Paying in cash
How are irregular expenses that you cannot predict called?
They are called unexpected expenses.
What type of expenses are food, petrol and household bills?
They are fixed expenses.
Name three consumer expenses.
Fixed expenses, variable expenses and unexpected expenses.
What activity is the third source of income in Spain's economy?
Tourism.
How are people that help others by working in associations without getting any money called?
They are called volunteers.
What people does inactive population include?
Inactive population includes all the people who are unable to work.
The _________________ includes all the people between the ages of 16 and 67 who are physically able to work.
active population
Name four different types of commerce.
Local shops, hypermarkets, national trade and international trade.
What type of workers does digital technology require?
Digital technology requires highly-skilled workers.
What led to mass production of goods?
The inventions of electricity and the assembly line.
What was the result with the use of the steam engine in the production process?
The result was the mechanisation of work.
How did artisans make products?
Artisans made products by hand.
Commerce, distribution and transport are examples of...
activities in the tertiary sector.
What is the most important economic sector in Spain nowadays?
The most important economic sector in Spain is the tertiary sector.
What was the most important economic sector in the past?
The most important economic sector in the past was the primary sector.
The tertiary sector is also known as...
the service sector.
What do silviculturists cultivate? What for?
Silviculturists cultivate forests to obtain products like wood, paper, resin and cork.
What economic sector do activities like fishing, mining or silviculture belong to?
Activities like fishing, mining or silviculture belong to the primary sector.
The businesses that sell products to other businesses are called...
suppliers.
What economic sector does a job in which someone sells a product or a service belong to?
It belongs to the tertiary sector.
What is it transformed in the secondary sector?
The raw materials or natural products are transformed into manufactured products.
In which economic sector do we obtain raw materials?
In the primary sector.
Which are the three types of capital we know?
The three types of capital we know are capital goods, financial capital and technological capital.
What is an entrepeneur?
An entrepeneur is a person who thinks of an idea for a business.
How is it called the income that people earn when they work?
It is called wages or salary.
How is it called the work that people do in the production of goods and services?
It is called labour.
Name at least three natural resources.
Water / Air / Minerals / Plants / Animals
What do we need to produce goods and services?
We need resources.
What does the state collect from businesses and households?
The state collects taxes.
What are the three economic agents in the economic system?
The three economic agents in the economic system are households, businesses and the state.
The economy is a system in which businesses provide ________ and ________ which people buy and use to satisfy their needs.
goods / services
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