16.9
Review exercise
Learning pathways LEVEL1 1, 2, 6, 7, 11
LEVEL2 3, 4, 5, 10, 12, 13
LEVEL3
8, 9
REMEMBER AND UNDERSTAND 1. Which of the following accurately describes a need? A. Life can continue without it. B. It temporarily goes away when we are satisýed. C. All needs are the same. D. Our needs never change. 2. Which of the following items can be classiýed as a want?
A. A container ýlled with water B. A container ýlled with food C. A container ýlled with lollies D. A container ýlled with air 3. Which of the following is not a resource used to produce goods and services? A. Land B. Labour C. Capital D. Money 4. Which of the following is not considered a part of the basic economic problem?
A. Lack of money B. Relative scarcity C. Consumer sovereignty E. Opportunity cost
5. Identify the best deýnition of ‘goods’. A. They are tangible items that we like. B. They are tangible items that we need. C. They are tangible items that we want. D. They are tangible items that satisfy what we need and want. 6. Businesses that show concern for the welfare of communities are known as ______ responsible. A. ethically B. environmentally C. socially D. morally 7. Which of the following can be used by a business to demonstrate their commitment to sustainability? A. Reducing waste B. Ethical sourcing of inputs C. Recycling D. All of the above 8. What is ‘bait advertising’? A. When customers are fraudulently enticed into a business by lower prices on a small number of items B. When a business offers customers a special deal to persuade their friends to deal with the business C. When a business uses fake samples to entice the customer into the business D. When a business lowers its prices 9. When does a customer have no automatic right to return goods for replacement or refund?
A. If the goods are found to be unýt for their usual purpose. B. If the customer has lost the receipt issued by the business. C. If the business clearly displays a ‘No refunds or replacements’ sign. D. If the customer changes their mind and decides not to keep the goods.
584 Jacaranda Humanities Alive 7 Victorian Curriculum Third Edition
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