Business Studies revision GCSE
- Created by: Saph00x
- Created on: 02-04-16 12:54
Other questions in this quiz
2. What is the basic economic problem?
- Not enough workers to produce goods
- When there are not enough unlimited supplies for the factors of production
- When the economy is in decline
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. 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
5. What is the private sector?
- Businesses owned by small groups of local people
- Businesses owned by private individuals
- PLC's
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