Economics basics

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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
  • Economies of scale
    • Why do businesses grow?
      • Spread of risk
      • Less competiton
      • Larger returns for owners
      • Average costs fall

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