Chapter 10 & 11 Review

Which of the following are negative impacts of science and technology to society and economy? [Answer is more than 1]

• Waste disposal

• Fast delivery

• Global warming

• Laziness

Which of the following shows the main role of science and technology in distribution?

• Indofood is investing in a new machine to reduce labour costs

• Tokopedia provides an online and integrated tracking service for its customers

• We can purchase everything online without leaving our homes though the use of apps

• Aice ice cream uses different ingredients that are earth friendly

Cynthia owns an event organisation that often takes footage using drones just like shown in the picture attached. Cynthia is thinking to get a new commercial drone because she believes an upgrade can produce higher-qualitay videos from different kinds of angles which automatically attract more customers. 

What is the economic positive impact of using a better drone for commercial purposes based on the case study above?

• Drones enable Cynthia to deliver the photos and videos directly to the clients without using USB/flash disk.

• People can borrow Cynthia's drone to buy products without leaving their premises/houses.

• She had to lay off some of her workers because the drone is really efficient.

• Higher revenue due to better quality of the product might lead to more profit.

Which of the following are the benefits of being an entrepreneur?

[Answer is more than 1]

• Being independent (free to decide the use of our time and money)

• The inability to run the business because of the lack of knowledge and experience.

• We might earn more than when we were employed, if the business grows.

• Opportunity cost - in terms of compensation we receive by working

New ideas, trying to find ways to attract new customers, and be different from competitors.

Which characteristic of a successful entrepreneur?

• Hard working

• Innovative

• Creative

• Optimistic

Able to convince other people of the skills an entrepreneur possess and to make them believe will be successful

• Self-confident

• Optimistic

• Creative

• Independent

Often to work alone before they can employ others, and also must be well-motivated and work without any help.

• Self-confident

• Independent

• Hard working

• Risk taker

Knowing that there are negative consequences that follow when a person owns a business, that is the possibility of fail, e.g. the products do not sell.

• Risk taker

• Hard working

• Effective communicator

• Self-confident

Not just having ideas, but also able to execute them or put them into practice.

• Creative

• Effective comunicator

• Innovative

• Hard working

Why is increasing the competition important to the economy?

• So that companies can pay less income tax

• So that businesses are stimulated to be more competitive (reduce their costs) and be more efficient

• To stop having similar products

• To prevent foreign companies entering the market