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4 Cards in this Set
- Front
- Back
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Qualities of money |
Durable Exchangeable Divisible Acceptable |
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Functions of money |
A media of exchange A measure of value A store if value
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Three types of economies and definitions |
Traditional- based on traditional practices where the entire economy is engaged in agriculture so they can produce enough for their own needs eg asia africa south america Free market- little to no government interference The costumers drive the economy- they influence the producer Planned economy- the state owns and controls the means of production and the profits gained |
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Leadership |
Leadership is the process of influencing the activities of an organised group toward goal setting and achievement A good leader has intelligence Is persistent Confident Creative Autocratic- dominant and decisions are made without consultation Democratic- seeks the opinions of the people they work with Laissez-faire- allows staff to work with little to no guidance |
