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WorksheetsBUSIG-G9-CH 1 and 2
Total questions: 25
Worksheet time: 12mins
Organisations run by central or local government are often referred to as
Private sector
Voluntary sector
Public sector
Mixed economy
Land, labour, capital and enterprise are collectively known as
Goods and services
Business cycle
Factors of production
Output
Organisations run by central or local government are often referred to as
Private sector
Voluntary sector
Public sector
Mixed economy
Which is a disadvantage of 'division of labour'?
workers and trained in one task & specialised in this, increasing efficiency.
Quicker & cheaper to train workers as fewer skills need to be taught.
Workers can become bored from doing just one job - efficiency might fall.
Less time is wasted moving from one workbech to another.
What is 'added value'?
is the next best alternative given up by choosing another item.
is the difference between the selling price of a product and the cost of bought-in materials and components.
It's a good or service essential for living.
is the lack of sufficient products to fulfil the total wants of the population.
Which of these business activities are usually NOT in the public (government) sector?
grocery stores
health
defence
public transport
What is de-industrialisation?
The period of social and economic change that transforms a society from an agrarian one into an industrial one.
Economic resources are owned, planned and controlled by the state.
Important industries are brought under government ownership.
it occurs when there is a decline in the importance of the manufacturing of a country.
Another name for 'Land, Labour, Capital & Enterprise'
The economic problem
Specialisation
Factors of production
Mixed economy
The decline of a country's traditional manufacturing industry
Globalisation
Mechanisation
Quaternary industry
Deindustrialisation
What is the key word for the reduction in industrial activity?
Post - industrial economy
Deindustrialisation
Industrialisation
Secondary Economy
