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IGCSE 1.2.1 Production

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  • Provide TWO examples of capital and TWO examples of consumer goods.
    Any reasonable answers!
  • Provide ONE reason why Bangladesh has experienced changes in its economic sectors
    Any reasonable answers from presentation!
  • Define secondary sector.
    This is the second stage of production. It involves processing raw materials into semi-finished and finished goods
  • Provide ONE reason why China has experienced changes in its economic sectors
    Any reasonable answers from presentation!
  • Define primary sector.
    This is the first stage of production. It involves the extraction and collection of raw materials such as coal, oil and crops.
  • Define tertiary sector.
    This is the third stage of production. It involves providing services to individuals and firms such as banking and tourism.
  • Identify ONE characteristic of land as a factor of production.
    Limited in land supply – it cannot be made by human beings. Land supply may change over time. It is geographically immobile.
  • Outline TWO things that entrepreneurs are responsible for.
    Coming up with a business idea, taking some risks and making decisions, Investments in the business, Organizing the other factors of production
  • Differentiate between working vs. fixed capital.
    used up in production vs. used to help make goods and services
  • Provide THREE examples of firms operating in the tertiary sector.
    Retail, restaurants, transportation services
  • Donald & Doris Fisher founded...
    Gap
  • Provide TWO examples of firms operating in the secondary sector.
    Construction, manufacturing of any sort, engineering etc.
  • In order to increase the value of human capital, governments / companies can...
    Provide education and training.
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