DIP – Tutorial 1 Lim Sei Kee @ cK. Instructions You will have a total of 10 questions to answer....

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DIP – Tutorial 1 Lim Sei Kee @ cK

Transcript of DIP – Tutorial 1 Lim Sei Kee @ cK. Instructions You will have a total of 10 questions to answer....

Page 1: DIP – Tutorial 1 Lim Sei Kee @ cK. Instructions You will have a total of 10 questions to answer. You will have to copy down the questions and answer them.

DIP – Tutorial 1

Lim Sei Kee @ cK

Page 2: DIP – Tutorial 1 Lim Sei Kee @ cK. Instructions You will have a total of 10 questions to answer. You will have to copy down the questions and answer them.

Instructions

•You will have a total of 10 questions to answer.

•You will have to copy down the questions and answer them accordingly.

•You will have 10 minutes for each question.

•[Total marks: 100]

Page 3: DIP – Tutorial 1 Lim Sei Kee @ cK. Instructions You will have a total of 10 questions to answer. You will have to copy down the questions and answer them.

Q1. The factors of production•Define:

•A) Land

•B) Labour

•C) Capital

•D) Entrepreneurship

Page 4: DIP – Tutorial 1 Lim Sei Kee @ cK. Instructions You will have a total of 10 questions to answer. You will have to copy down the questions and answer them.

Q2. What are the rewards of:•A) Land

•B) Labour

•C) Capital

•D) Entrepreneurship

Page 5: DIP – Tutorial 1 Lim Sei Kee @ cK. Instructions You will have a total of 10 questions to answer. You will have to copy down the questions and answer them.

Q3. Fill in the blanks with the correct word.

•A) A __________ can be defined as an organization that provides goods and services to others who want or need them.

•B) ___________ are tangible things that are produced, bought or sold, then finally consumed.

•C) ___________ are sometimes referred to as intangible, in the sense that you cannot touch or handle them.

•D) The output from production is ___________

Page 6: DIP – Tutorial 1 Lim Sei Kee @ cK. Instructions You will have a total of 10 questions to answer. You will have to copy down the questions and answer them.

Q4. Goods or services?

•A) Games consoles•B) Dental treatment•C) DVD players•D) Accountancy•E) Take-away pizzas•F) Insurance•G) Food

•H) Holidays• I) Clothing•J) Music downloads•K) Projector•L) Watching a film•M) Keyboard•N) Having a hair-cut

Page 7: DIP – Tutorial 1 Lim Sei Kee @ cK. Instructions You will have a total of 10 questions to answer. You will have to copy down the questions and answer them.

Q5. True or False?•1) Businesses provide goods and services.•2) To be able to provide goods and services,

businesses need to be able to turn outputs into inputs.

•3) Turning inputs into outputs is known as the production process.

•4) Turning outputs into inputs is known as the production process.

•5) A business needs resources in order to trade.

Page 8: DIP – Tutorial 1 Lim Sei Kee @ cK. Instructions You will have a total of 10 questions to answer. You will have to copy down the questions and answer them.

Q6. Inputs into the production process include:

•A)•B)•C)•D)•E)•F)

Page 9: DIP – Tutorial 1 Lim Sei Kee @ cK. Instructions You will have a total of 10 questions to answer. You will have to copy down the questions and answer them.

Q7. Three main groups of transformation process.

•Traditionally, the outputs from the transformation process will fall into these three groups:

•A)•B)•C)

Page 10: DIP – Tutorial 1 Lim Sei Kee @ cK. Instructions You will have a total of 10 questions to answer. You will have to copy down the questions and answer them.

Q8. Primary? Secondary? Tertiary?•Many farms in Britain (farming = __________ sector)

produce processed foods such as cheese and ice-cream from farm supplies (___________sector) and also offer holiday accommodation (____________ sector)

Page 11: DIP – Tutorial 1 Lim Sei Kee @ cK. Instructions You will have a total of 10 questions to answer. You will have to copy down the questions and answer them.

Q9. What is the word?•1. The secondary sector is also often referred to as

the “_________________”.•2. The main cost of a service business is the

____________ involved.•3. ____________ is defined as the creative energy

and force that gets a business started and drives it forward.

•4. _____________ are the actual users of the goods or service.

Page 12: DIP – Tutorial 1 Lim Sei Kee @ cK. Instructions You will have a total of 10 questions to answer. You will have to copy down the questions and answer them.

Q10. •1. The [INPUTS / OUTPUTS] from the production

process are the finished goods and services.

•2. Outputs are bought by [CUSTOMERS/CONSUMERS] – the people who pay.

•3. [CONSUMERS / CUSTOMERS] are the actual users of the goods or service.

Page 13: DIP – Tutorial 1 Lim Sei Kee @ cK. Instructions You will have a total of 10 questions to answer. You will have to copy down the questions and answer them.

End of Tutorial.

•Submit your answers individually.

•Make sure you have written your full name.

•You may go after you have submitted your work.

•See you next week.