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6. 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
7. 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
8. what is added value?
- Spending more money to increase fixed costs
- The difference between input costs and value placed on product
- fixed costs + variable costs
9. 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
10. What are the factors of production?
- Land, Labour, Capital, Enterprising skills
- Business plan, calculation, Land, profit
- Capital, Shipping, Leadership, Land
11. What is the private sector?
- Businesses owned by private individuals
- PLC's
- Businesses owned by small groups of local people
12. Which is a method of adding value?
- Branding
- Selling more units
- Spending more on manufacturing
13. Which is NOT a demographic
- Income
- Household
- Gender
- Occupation
- Behaviour
- Religion, race, nationality