Other questions in this quiz

2. What is the Commend economy?

  • When the local economy is very high and businesses are growing
  • When the goverment choses what products should be sold, the price, place, amount etc.
  • When you have public and private sectors

3. What is a market?

  • A place that makes goods from raw materials
  • where buyers and sellers meet to exchange goods
  • An area where clothes are displayed

4. What is the private sector?

  • Businesses owned by small groups of local people
  • Businesses owned by private individuals
  • PLC's

5. What is opportunity cost?

  • Loss of Capital through poor investment opportunities
  • Loss of the benefits you would get if you chose the other option
  • The amount of capital needed to invest in new business ideas

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