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Published byTarek Eltoukhy Modified over 6 years ago
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UNIT 1 – BUSINESS ACTIVITY Chapter 2 – Types of Business Activity
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WHAT YOU WILL LEARN….. The different levels of business activity pp rimary, secondary, tertiary How private & public sectors of industry are organised How do businesses expand mm erger & take-over How to measure and compare business size
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KEY TERMS Industry mm anufacturing of a good or service within a category tt he organized action of making of goods and services for sale Economy tt he system of production and management of material wealth "economic growth"; "aspects of social, political, and economical life
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LEVELS OF BUSINESS ACTIVITY Primary Secondary Tertiary
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TYPES OF COUNTRIES Developed Countries Developing Countries
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SECTORS OF INDUSTRY
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TYPES OF ECONOMY Types of Economy Free Market Command/Planned Mixed
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(FREE) MARKET ECONOMIES (Free) Market Economies Resources Privately Owned Produce Goods Profit Demand & Supply
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(FREE) MARKET ECONOMIES
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COMMAND/PLANNED ECONOMIES Command/ Planned Economies Resources Govt Owned State Owns & Controls State What & How Much Consumers Little Choice Workers Ordered
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COMMAND/PLANNED ECONOMIES
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MIXED ECONOMIES Mixed Economies (Free) Market Economies Command/ Planned Economies
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GOVERNMENT CONTROLS
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EFFICIENCY It is the degree to which something is done well or without wasted energy or effort
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PRIVATISATION When governments sell of businesses they previously owned to new owners in the private sector
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PRIVATIZATION New owners Profit Motive Increase Competition Government needs cash Decision-Making Changes Sale
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Loss-Making services closed Job losses Risk of Monopoly Benefits
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