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Big businesses have two major factors in their favour: economies of scale and the ability to negotiate toughly with suppliers.

SMALL BUSINESSES
Small can be beautiful for two main reasons:

They are able to respond flexibly to changes in the market e.g. interest rates.
Small firms can find niches that…

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Seasonal Unemployment This reflects the uneven pattern of activity throughout the year in some industries
e.g. tourism.

Cyclical or demand deficiency Unemployment occurs because of falls in aggregate demand during the
downturn of the trade cycle and subsequent recession.

MOBILITY (the ease with which people can move from job to…

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