Other questions in this quiz

2. What is opportunity cost?

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

3. What is the Commend economy?

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

4. Which is NOT a method of adding value?

  • Loyalty cards
  • Packaging
  • Location
  • Quantity

5. What is mixed economy?

  • mixture of either markets and economic planning, public and private businesses or free economy
  • When the economy is sometimes high, but becomes low at points
  • Distinctiveness of the product being offered


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