Business Studies revision GCSE

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  • Created by: Saph00x
  • Created on: 02-04-16 12:54

1. 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
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2. What is the Free economy?

  • When economy is at its peak
  • When the government does not interfere with any business activity
  • When prices are reduced on products to be fairer for cusomers

3. What is working capital?

  • Profit from running a business
  • Pays for wages, rent, supplies etc.
  • Money needed to pay fro everyday items, for example machinery, tools

4. Which is NOT a demographic

  • Behaviour
  • Religion, race, nationality
  • Occupation
  • Income
  • Gender
  • Household

5. What is mixed economy?

  • Distinctiveness of the product being offered
  • 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

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