Sample
Summaries after sample
, T11: Types of markets T10: Capital
The goods and services market • Borrowed/loan capital – money borrowed from
• All the places where goods and services are friends, family/bank that needs to be paid back,
exchanged in economic transactions. often with interest.
• Households use their income to buy from • Own capital – money you’ve saved or inherited,
businesses and the government. and you’ve invested in your business.
• •
The factor market T10: Factors of Labour
• Labour market – buying someone’s services. production • Workforce of the country – the number of
• T11: The markets
Sample
Financial market – where people and people of working age, level of skill and type of
companies trade financial assets. skills.
• • Unskilled labour - don’t have training or
independent judgement.
• Semi-skilled labour – some training and
independent judgement.
Summaries after sample Remuneration of the
•
•
Skilled labour – high level of skill and
independent judgement.
If employees aren’t treated fairly, they will treat
customers badly – business losses money.
factors of production
• Remuneration from the use of land – rent income. Natural resources
• Remuneration from the use of labour – household • Land, water, soil, air, plants, minerals
members’ labour. and animals.
• Remuneration from the use of capital – interest.
• Remuneration from the use of entrepreneurship –
profits from their ideas and time.
•
Entrepreneurship
• Brings all the other factors of production
together and puts them into action.
GR8 EMS T2 Mind map Study & Master Copyright © www.summariessa.co.za (DO NOT COPY)
Summaries after sample
, T11: Types of markets T10: Capital
The goods and services market • Borrowed/loan capital – money borrowed from
• All the places where goods and services are friends, family/bank that needs to be paid back,
exchanged in economic transactions. often with interest.
• Households use their income to buy from • Own capital – money you’ve saved or inherited,
businesses and the government. and you’ve invested in your business.
• •
The factor market T10: Factors of Labour
• Labour market – buying someone’s services. production • Workforce of the country – the number of
• T11: The markets
Sample
Financial market – where people and people of working age, level of skill and type of
companies trade financial assets. skills.
• • Unskilled labour - don’t have training or
independent judgement.
• Semi-skilled labour – some training and
independent judgement.
Summaries after sample Remuneration of the
•
•
Skilled labour – high level of skill and
independent judgement.
If employees aren’t treated fairly, they will treat
customers badly – business losses money.
factors of production
• Remuneration from the use of land – rent income. Natural resources
• Remuneration from the use of labour – household • Land, water, soil, air, plants, minerals
members’ labour. and animals.
• Remuneration from the use of capital – interest.
• Remuneration from the use of entrepreneurship –
profits from their ideas and time.
•
Entrepreneurship
• Brings all the other factors of production
together and puts them into action.
GR8 EMS T2 Mind map Study & Master Copyright © www.summariessa.co.za (DO NOT COPY)
