Podcast
Questions and Answers
A business is an organization set up by one or more people to produce and/or ______ goods & services.
A business is an organization set up by one or more people to produce and/or ______ goods & services.
provide
A ______ is a business that is publicly owned by people and trades on stock exchanges.
A ______ is a business that is publicly owned by people and trades on stock exchanges.
public corporation
The ______ sector is responsible for exploiting natural resources.
The ______ sector is responsible for exploiting natural resources.
primary
The ______ function of a business is its main activity.
The ______ function of a business is its main activity.
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A ______ statement sets out the main purpose and goals of a business.
A ______ statement sets out the main purpose and goals of a business.
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The ______ environment includes economic factors that affect a business.
The ______ environment includes economic factors that affect a business.
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_______, social, Technological, ethical -> business has to monitor & adapt to these influences.
_______, social, Technological, ethical -> business has to monitor & adapt to these influences.
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Changing prices determines _______ and demand.
Changing prices determines _______ and demand.
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Macroeconomics deals with economy-wide indicators like GDP, growth rate, prices, unemployment, and inflation. GDP stands for gross domestic _______.
Macroeconomics deals with economy-wide indicators like GDP, growth rate, prices, unemployment, and inflation. GDP stands for gross domestic _______.
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Planned economies like socialist or communist systems have _______ competition and limited government intervention.
Planned economies like socialist or communist systems have _______ competition and limited government intervention.
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Privatization refers to changing a business from state to private _______.
Privatization refers to changing a business from state to private _______.
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The law of demand states that when price goes down, buyers tend to _______ more.
The law of demand states that when price goes down, buyers tend to _______ more.
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