G6 SS Revision Paper PDF
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Summary
This document contains a set of questions related to economic systems, including definitions of various financial terms and factors to consider when selling products or providing services. It appears to be a revision paper for a G6 SS class, but there isn't enough context to determine any exam board or year.
Full Transcript
**Read and answer the following questions.** 1. What is an economic system?..................................................................................................................................................................................................................................
**Read and answer the following questions.** 1. What is an economic system?............................................................................................................................................................................................................................................................................................................................................................... 2. Three important questions in the economic system................................................................................................................................................................................................................................................................................................................................................................ 3. Explain the economic system. a. Traditional Economy.................................................................................................................................................................................................................................... b. Command Economy.................................................................................................................................................................................................................................... c. Market Economy.................................................................................................................................................................................................................................... d. Mixed Economy.................................................................................................................................................................................................................................... 4. Compare export and import. Why it is important in a country?......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 5. Factors to consider when selling products or providing services................................................................................................................................................................................................................................................................................................................................................................ 6. Define the following: a. Bank.......................................................................................................................................................................................................................................... b. Bartering.......................................................................................................................................................................................................................................... c. Commodity Money.......................................................................................................................................................................................................................................... d. Bank Notes.......................................................................................................................................................................................................................................... e. Digital Money.......................................................................................................................................................................................................................................... f. Deposits.......................................................................................................................................................................................................................................... g. Loans.......................................................................................................................................................................................................................................... h. Credit Cards.......................................................................................................................................................................................................................................... i. Lending.......................................................................................................................................................................................................................................... j. Interest.......................................................................................................................................................................................................................................... k. Debit card.......................................................................................................................................................................................................................................... l. Fraud.......................................................................................................................................................................................................................................... 7. What are the provinces that have special status? Explain each......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 8. Explain the divisions of provinces. a................................................................................................................... b..................................................................................................................................................................................................................................... 9. Based on the following islands, write some sceneries, traditional food, and traditional clothes of their provinces...........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
