1h) businesses contribution to the wellbeing of the nation Flashcards Preview

buisness managment unit 1 & 2 > 1h) businesses contribution to the wellbeing of the nation > Flashcards

Flashcards in 1h) businesses contribution to the wellbeing of the nation Deck (6)
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1
Q

an area or region that engages in the production, consumption and distribution of goods and services is…

A

An economy

2
Q

a compulsory payment which is used to finance the provision of public goods and services such as courts and police services is…

A

Tax

3
Q

the essential facilities and structures that are required for an economy to operate is…

A

Infrastructure

4
Q

when the total value of goods and services produced by an economy increases over a period of time is…

A

Economic growth

5
Q

economic growth can be measured by…

A

Gross Domestic Product (GDP)

6
Q

the exchange of goods and services between countries is called…

A

International trade

Decks in buisness managment unit 1 & 2 Class (55):