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10 Cards in this Set
- Front
- Back
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Things to learn for BS test
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Difference in terms of needs and wants
-government and private sectors -government provides needs (health care, education, transport) |
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Things to learn for BS test
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3 types of economy (compare advantages of each)
-planned -free market -mixed -privatization and nationalization -monopolies |
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Things to learn for BS test
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Levels of production
-primary -secondary -tertiary -deindustrialization |
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Things to learn for BS test
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3 ways of measuring business size
-revenue -capital employed -number of employees -some companies are labor intensive, others are capital intensive |
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Things to learn for BS test
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Business growth
-internal and external growth -external growth (mergers, takeovers, acquisitions) -vertical/forward/backward/horizontal integration -joint venture and conglomerate |
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Things to learn for BS test
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Business stakeholders
-government -community -managers -owners -employees -costumers |
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Things to learn for BS test
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Different types of ownership
-sole traders -partnership -private limited companies -public limited company -cooperatives (consumer and producers) -franchise |
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Things to learn for BS test
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Business and law
-copyright -health and safety -consumer protection -weights and measures -equal employment/antidiscrimination |
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Things to learn for BS test
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Government and the economy
-low inflation -steady growth (GDP) -low unemployment -policies can influence the business/trade cycles (growth, boom. slump. Recession) |
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Things to learn for BS test
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3 government policies
-fiscal (tax and spend) -monetary (interest rates) -supply side (minimum wage) Two other important measures -balance and payments -exchange rates |
