Create an account
different goods that satisfy the same needs of the consumers and can be used to replace one another
a tax imposed on the income or profits of the person who pays, it rather than on goods and services
the provision of goods and services by businesses that are owned by individuals or groups of individuals
mixed economy where goods and services are provided by both the private and the public sectors
the exclusive possession or control of the supply or trade in a commodity or service - when there is no competition and only one company is providing the good / service
Division of labour
the breaking down of the production process into small parts with each worker allocated to a specific task
the production of a limited range of goods by individuals, firms, regions or countries
refers to the factories, offices, shops, machines, tools, equipment and furniture used in the production
an individual who organizes the other factors of production and risks their own money in a business venture
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