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Exam (elaborations)

CHAPTER 2 HOW ECONOMIC ISSUES AFFECT BUSINESS QUESTIONS WITH CORRECT ANSWERS 2025.

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CHAPTER 2 HOW ECONOMIC ISSUES AFFECT BUSINESS QUESTIONS WITH CORRECT ANSWERS 2025.

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Institution
Business finance
Course
Business finance

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Uploaded on
November 11, 2024
Number of pages
4
Written in
2024/2025
Type
Exam (elaborations)
Contains
Questions & answers

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  • chapter 2 how economic issues affect business ques

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CHAPTER 2 HOW ECONOMIC ISSUES
AFFECT BUSINESS QUESTIONS WITH
CORRECT ANSWERS 2025
MacroeconomicsQ-QcorrectQanswer-
looksQatQtheQoperationQofQaQnation'sQeconomyQasQaQwholeQex.QhowQmanyQjobsQexistQinQtheQwholeQecono
my



MicroeconomicsQ-QcorrectQanswer-
looksQatQtheQbehaviourQofQpeopleQandQorganizationsQinQparticularQmarketsQex.QhowQmanyQpeopleQwillQbeQ
hiredQinQaQparticularQindustryQorQinQaQparticularQregionQofQtheQcountry



EconomicQTheoryQofQWealthQCreation:QAdamQSmithQ-QcorrectQanswer--QRightQtoQMakeQaQProfit

-QRightQtoQPrivateQProperty

-QRightQtoQBuyQorQSell

-QFreedomQtoQCompete

-QFreedomQfromQGovernmentQInterference



FourQEconomicQSystemsQ-QcorrectQanswer-1.QCommunism

2.QSocialism

3.QMixed

4.QCapitalism



CapitalismQ-QcorrectQanswer-IndividualsQseekingQprofitQproduceQgoodsQandQservices

-
QAllQorQmostQofQtheQfactorsQofQproductionQandQdistributionQareQprivatelyQownedQandQareQoperatedQforQpr

ofit



SocialismQ-QcorrectQanswer-SomeQfreeQmarketQandQsomeQgovernmentQallocation

-QgovernmentQmakesQmoreQofQtheQpurchaseQdecisionsQratherQthanQindividuals
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