smt

Question 1

Industries that take something out of the earth or sea are called _______.

Answer 1

extractive industries

Question 2

_________ are goods that are used to produce other goods.

Answer 2

raw materials

Question 3

The making of a Ganong chocolate uses _________ such as sugar and cocoa.

Answer 3

ingredients

Question 4

__________ are used to maintain the machines that make the chocolates.

Answer 4

supplies

Question 5

Wheat milled into flour is an example of ________.

Answer 5

processing

Question 6

_________ is the physical and mental effort needed to produce goods or services.

Answer 6

labour

Question 7

To save on labour costs, many tasks once performed by people are now _________.

Answer 7

automated

Question 8

To save on labour costs, many tasks once performed by people are now _________.

Answer 8

automated

Question 9

Tim Hortons __________ its bakery operations when it opened a large plant to bake all of its products.

Answer 9

consolidated

Question 10

_________ is the money invested in a business. If it is ________, it can easily be turned into something else.

Answer 10

Capital & Liquid

Question 11

A business’s trade secrets or the ideas or talent of its work force is its __________.

Answer 11

intellectual property

Question 12

_________ controls the factors of production and allots a company’s resources.

Answer 12

Management

Question 13

__________ is a process that turns oil into gasoline.

Answer 13

Refining

Question 14

_________ departments ensure products meet certain standards for use.

Answer 14

Quality control

Question 15

Gasoline and eggs are examples of goods that are subject to __________.

Answer 15

grading

Question 16

A(n) _________ inventory system allows a business to have the goods it needs,
where it needs them, when it needs them.

Answer 16

just-in-time

Question 17

A(n) _________ inventory system allows a business to have the goods it needs,
where it needs them, when it needs them.

Answer 17

just-in-time