Y10 Economics Unit - Revision

Match the following questions

• Global economics

• the study of human interactions and relationships between individuals and society.

• Macroeconomics

• the study of individuals, households and businesses

• Social science

• the study of a nation as a whole

• Microeconomics

• the study of how countries interact in trade

Match the following

• Services

• People who make or grow goods and provide services

• Consumers

• A person who purchases goods and services for personal use.

• Economics

• An intangible commodity

• Goods

• Tangible items that can be used and stored

• Producers

• A social science that focuses on the production, distribution, and consumption of goods and services, and analyses the choices that individuals, businesses, governments, and nations make to allocate resources.

non-natural products used in the production process

(use lower case)

(a)  

skills, creativity and risk-taking ability of a business-person to combine and manage

the other three factors of production

(use lowercase)

(a)  

Natural resources used in the production process

(use lowercase)

(a)  

human resources required in the production process

(use lower case)

(a)  

Organize these options into the right categories

Groups:

(a) Land

,

(b) Labour

,

(c) Capital

,

(d) Enterprise

• gold

• bridge

• grass

• teacher

• bus driver

• aeroplane

• economist

• water

• horse

• Elon Musk

• Donald Trump

• sheep

• shed

• coal

• Jeff Bezos

• computer

• farmer

• actor

• stapler

• football player

Reward for land

(use lowercase)

(a)  

Reward for enterprise

(use lowercase)

(a)  

Reward for capital

(use lowercase)

(a)