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problem 1:

a) Describe the terms:

•    Public sector.
•    Private sector.

b) describe the three S’s.

problem 2:

a) Describe why the role of the entrepreneur is so crucial to the economic success of lots of countries.

b) Describe why cash flow is crucial to the success of a business.

c) Describe why a business will normally have to seek planning permission to build or expand the business premises.

problem 3:

a) Describe the given three factors of production:

•    Land
•    Labor
•    Capital

b) Describe the qualities of an acceptable currency.

problem 4:

a) Describe the significance of LOCATION when beginning a new business.

b) Describe the significance of a reliable and respected legal system to the national business environment.

c) Describe the significance of profits to a business.

problem 5: prepare notes on the following:

a) Opportunity cost.
b) Demography.
c) Accounting records.
d) The chain of production.
e) Economies of scale.
f) A mixed economy.
g) Diseconomies of scale.

Business Management, Management Studies

  • Category:- Business Management
  • Reference No.:- M94045

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