F291 key terms

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Chain of production
stages that a product passes through until it reaches the final consumer
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private sector
businesses owned and run by private individuals - usually for profit
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public sector
business and organisations owned and run by local or central government whose objective is to provide a service rather than make a profit
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entrepreneuer
a risk taker who sets up a business organising the business resoirces with aim of making a proft
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nationalisation
government taking ownership and control of a business ot industry from private investors by buying up all its shares
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privatisation
the process of selling state-owned industries to the private sector
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Card 2

Front

private sector

Back

businesses owned and run by private individuals - usually for profit

Card 3

Front

public sector

Back

Preview of the front of card 3

Card 4

Front

entrepreneuer

Back

Preview of the front of card 4

Card 5

Front

nationalisation

Back

Preview of the front of card 5
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