1h) businesses contribution to the wellbeing of the nation Flashcards
1
Q
an area or region that engages in the production, consumption and distribution of goods and services is…
A
An economy
2
Q
a compulsory payment which is used to finance the provision of public goods and services such as courts and police services is…
A
Tax
3
Q
the essential facilities and structures that are required for an economy to operate is…
A
Infrastructure
4
Q
when the total value of goods and services produced by an economy increases over a period of time is…
A
Economic growth
5
Q
economic growth can be measured by…
A
Gross Domestic Product (GDP)
6
Q
the exchange of goods and services between countries is called…
A
International trade
