Economic

Question 1

How many rights are in customer rights law

Answer 1

5

Question 2

Customers right (1)

Answer 2

1. right to receive information
2. right to choose and services freely
3. right to be safe from using goods and service

Question 3

Customers right (2)

Answer 3

4. right to receive fairness in contract
5. right to be considered and compensated

Question 4

What does GDP mean?

Answer 4

Gross domestic product

Question 5

Type of investment (2)

Answer 5

1. Private sector
2. Government sector

Question 6

1. Private sector (2)

Answer 6

1. processing / direct investment
2. monetary - indirect investment

Question 7

1. processing / direct investment
   -what is it
   -example

Answer 7

-goods and services that are used to increase income and profit
-e.g.factories, machines, offices, and labor

Question 8

2. monetary - indirect investment
   -what is it
   -example

Answer 8

-is the investment that gets money from the difference in the prices
-e.g.buying stocks - bonds and share

Question 9

Goverment sector
example

Answer 9

build public utilities, education, public health

Question 10

Production factors (4)

Answer 10

1. Land
2. labour
3. Capital
4. entrepreneur

Question 11

1. Land

Answer 11

resources that come from the land
e.g. field forest

Question 12

2. labour

Answer 12

represented the human effort, skill, and knowledge that go into producing goods and products.

Question 13

3. Capital

Answer 13

refers to the tools, machines, equipment, and financial resources (money)

Question 14

4. entrepreneur

Answer 14

is someone who starts and runs the business using land, labor, and capital, they’re like a boss.

Question 15

Type of labour (3)

Answer 15

1. Skilled labour
2. Seme-skilled labour
3. Unskilled labour

Question 16

1. Skilled labour

Answer 16

These are workers with special training or education
e.g. doctors, electricians, scientists, and nurse

Question 17

2. Seme-skilled labour

Answer 17

workers who have some training or experience but do not require extensive education compared to skilled labor.
e.g.construction workers, plumbers, carpenters

Question 18

3. Unskilled labour

Answer 18

job that requires minimal training or special skills.
e.g.cleaner, cashiers, dishwasher.

Question 19

Goods and services (2)

Answer 19

1. Economic assets
2. Free assets

Question 20

1. Economic assets (2)
   -What is it

Answer 20

1. private good
2. public good

-have production costs (customers need to pay)

Question 21

1. private good
   -what is it
   -example

Answer 21

have production costs and customers need to pay for the goods and services.

Question 22

2. public good
   -example

Answer 22

e.g. public education

Question 23

2. Free assets
   -what is it
   -example

Answer 23

-goods and services that have no production costs
-e.g. air

Question 24

Saving benefit 1)

Answer 24

keeps you safe from unexpected costs such as medical bills

Question 25

Saving benefit 2)

Answer 25

allows you to work toward your long-term goals such as buying a home, going on a dream vacation

Question 26

saving benefit 3)

Answer 26

some savings accounts earn interest, and help you grow money over time, like planting seeds that grow into a big tree

Question 27

Investment benefit 1)

Answer 27

help your money keep up with prices that go up over time (inflation)

Question 28

Investment benefit 2)

Answer 28

Some investments can bring you extra money without you having to work more

Question 29

Investment benefit 3)

Answer 29

Investment has the potential to make your money grow faster than saving

Question 30

3 Principles sufficiency economy (3)

Answer 30

1. Moderation 2. Reasonable 3. Self-Immunity