, mid year pop estimates in 2019 .
LAND AREA POPULATION
South Africa219090km
e
·
rods
sEnterprises
:Supypumaouutaeneurship
function
function : produce goods 3 services
↳ is an economic decision maker >
-
One's needs/ wants depend on goods/services produced in econ.
purpose : earn income/mane profit
The business population
establishment preforms 2) more functions in production fabrication
1 . ) Plant: physical ,
distribution of goods i services. functions
/different
-vertically
· Pamratioineal
3 operates /or more plants
2) firm business org owns
functions)
4) use per-capita expenditure : .
-
horizontally (same
the 3 . ) Industry :
group of firms that produce same/similar products
-
imme
national income divided among functions preformed
to earn it.
legal forms of business
Personal Distribution of income limited liability. : business
1) Sole proprietorship : business owned operated by 1 person has , no
my's
~personal/disposable income
divided
ea
liabilities include owner's personal assets.
government
among different income classes/households/families
DERS
players
2/more agree own operate business together. They
2) Partnership :
Households as share risks profits/losses
,
(personal expenditure)
(private/public creation acquire resources own assets produce
in
Economy Company : 3legal
,
,
3) sell incurdebts extend credit sue be sued
4) income good determinant of expenditure patterns
↓
, ,
,
↳ low-income earns different high-income eachers ADV of companies
:structuremosteffectiveformselstos
G
.
S
semi-durable goods :
>clothing
- , footwear but. . . liability to owners
principles (stockholders
Principle-agent problem : conflict of interest between
Mid-up
, (run business on behalf
>Durablegooda life agents
- -
more 3 years
e
↳
ernment -s ofallarg fromdai
a
serviceengibe act
hig by means of a political process
sector
Role : create environment in which
economy can operate freely 3 fairly
↳ providing legal framework services ensures fa i r
petition
own-government
users
s basic mechanism , force that subjects
w/ Consumers enterprises regulatory
consists of large no individual states each => 3 suppliers to dictates consumer
sovereignty
transfer
& S A. involved international trade . : =
Open Economy payments
:Payment AMoneygrs/sewices by governmenttohouseae
return
benefits but also sensitive world events
↳ enjoy changing comp market produces 'wrong'
.
↳ take care market failures
[amomscertain goodservicea
or
resources to production of certain
ate
any
goods /
services (involves public goods( -
opp of private
.
goods s are distinguished
by non-rivalry & non-excludability
on-rivalry
* : I person's consumption good not preclude
consumption of good by
others.
-non-excludability :meansnoeffective wayofexcludingind
a
LAND AREA POPULATION
South Africa219090km
e
·
rods
sEnterprises
:Supypumaouutaeneurship
function
function : produce goods 3 services
↳ is an economic decision maker >
-
One's needs/ wants depend on goods/services produced in econ.
purpose : earn income/mane profit
The business population
establishment preforms 2) more functions in production fabrication
1 . ) Plant: physical ,
distribution of goods i services. functions
/different
-vertically
· Pamratioineal
3 operates /or more plants
2) firm business org owns
functions)
4) use per-capita expenditure : .
-
horizontally (same
the 3 . ) Industry :
group of firms that produce same/similar products
-
imme
national income divided among functions preformed
to earn it.
legal forms of business
Personal Distribution of income limited liability. : business
1) Sole proprietorship : business owned operated by 1 person has , no
my's
~personal/disposable income
divided
ea
liabilities include owner's personal assets.
government
among different income classes/households/families
DERS
players
2/more agree own operate business together. They
2) Partnership :
Households as share risks profits/losses
,
(personal expenditure)
(private/public creation acquire resources own assets produce
in
Economy Company : 3legal
,
,
3) sell incurdebts extend credit sue be sued
4) income good determinant of expenditure patterns
↓
, ,
,
↳ low-income earns different high-income eachers ADV of companies
:structuremosteffectiveformselstos
G
.
S
semi-durable goods :
>clothing
- , footwear but. . . liability to owners
principles (stockholders
Principle-agent problem : conflict of interest between
Mid-up
, (run business on behalf
>Durablegooda life agents
- -
more 3 years
e
↳
ernment -s ofallarg fromdai
a
serviceengibe act
hig by means of a political process
sector
Role : create environment in which
economy can operate freely 3 fairly
↳ providing legal framework services ensures fa i r
petition
own-government
users
s basic mechanism , force that subjects
w/ Consumers enterprises regulatory
consists of large no individual states each => 3 suppliers to dictates consumer
sovereignty
transfer
& S A. involved international trade . : =
Open Economy payments
:Payment AMoneygrs/sewices by governmenttohouseae
return
benefits but also sensitive world events
↳ enjoy changing comp market produces 'wrong'
.
↳ take care market failures
[amomscertain goodservicea
or
resources to production of certain
ate
any
goods /
services (involves public goods( -
opp of private
.
goods s are distinguished
by non-rivalry & non-excludability
on-rivalry
* : I person's consumption good not preclude
consumption of good by
others.
-non-excludability :meansnoeffective wayofexcludingind
a
