Ch.15- Mixed economic system Flashcards
1
Q
Mixed economic system
A
An economy in which both the private and public sectors play an important role
2
Q
Rationing
A
A limit on the amount that can be consumed
3
Q
Lottery
A
The drawing of tickets to decide who will get the products
4
Q
Nationalisation
A
Moving the ownership and control of an industry from the private sector to the government
5
Q
Public corporation
A
A business organisation owned by the government which is designed to act in the public interest
6
Q
Cost benefit analysis (CBA)
A
A method of assessing investment projects which takes social costs and benefits into account
7
Q
Multinational companies (MNCs)
A
Companies which produce in more than one country
