Economics basics
- Created by: Bethkeeg
- Created on: 01-04-16 12:45
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- What causes business failure?
- Poor cash flow
- Poor marketing mix
- Changes in demand
- Poor productivity
- What are the costs of people being unemployed?
- Loss of output to the economy
- Loss of profit
- Increase in government spending
- Loss of tax revenue
- Internal and external growth
- Opening new branches
- Why can monopoly's be bad?
- High prices
- Excessive profits
- Little choice
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- Changes in demand
- What problems does the economy face?
- Demand from foreign consumers
- Inflation
- Customer confidence
- Interest rates
- How can monopoly's be good?
- Value for money
- Natural monopolys
- Development of new products
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- What problems does the economy face?
- Demand from foreign consumers
- Inflation
- Customer confidence
- Interest rates
- What problems does the economy face?
- Economies of scale
- Why do businesses grow?
- Spread of risk
- Less competiton
- Larger returns for owners
- Average costs fall
- Why do businesses grow?
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