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More cards in this set
Card 6
Front
The next best alternative given up by choosing another item
Back
Card 7
Front
A good or service essential for living
Back
Card 8
Front
A form of business in which two or more people agree to own the business together under legal contract
Back
Card 9
Front
The difference between selling price and the cost of bought in materials and components
Back
Card 10
Front
Sector of the industry that provides services to consumers and the other sectors of industry
Back
Card 11
Front
When a business expands its existing operations
Back
Card 12
Front
When people and businesses concentrate on what they are best at
Back
Card 13
Front
Businesses that are wholly owned by the state or government
Back
Card 14
Front
What occurs when there is a decline in the importance of the secondary sector.
Back
Card 15
Front
An economy with both a private and public sector
Back
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