The market and its types
Answers are for parents and teachers.
1
Write five markets or forms of trade your family took part in during a week and name the type.
Sample: farmers' market – consumer goods; payment by card – financial; being hired – labour market.
2
A building firm bought 120 bags of cement at 45 000 so‘m a bag. What is the total in so‘m?
5400000
3
At a conditional rate of 1 dollar = 12 500 so‘m, how many whole dollars does 600 000 so‘m exchange for? (Write only the whole part.)
48
4
Write the four functions of the market in your own words and give an example of one.
It links producers and consumers, sets prices, regulates the economy, connects countries. For example, if the price rises, producers make more.
5
Why is labour called a “special commodity” and why does it have its own market?
Because people sell their labour power for wages and employers buy it; job seekers and vacancies meet in the labour market.