Economic assumption

Question 1

Assumption

Answer 1

Things you think are true although you have no definite proof

Question 2

Irrational

Answer 2

Not based on clear thought or reason

Question 3

Rational

Answer 3

Based on clear thought or reason

Question 4

Variables

Answer 4

Something that affects a situation in a way that means you cannot be sure what will happen

Question 5

Maximise

Answer 5

To increase something such as profit, satisfaction or income as much as possible

Question 6

Revenue

Answer 6

Money a business receives over a period of time, especially from selling goods or services

Question 7

Enterprise

Answer 7

Companies, organisations or businesses

Question 8

Commission

Answer 8

Amount of money paid to someone according to the value of goods, shares or bonds they have sold

Question 9

Delegate

Answer 9

To give part of your power or work to someone else, usually someone in a lower position than you

Question 10

Humanitarian

Answer 10

Concerned with improving bad living conditions and preventing unfair treatment of people

Question 11

Retailer

Answer 11

Business that sells goods to members of the public, rather than to shops

Question 12

Administration

Answer 12

Activities involved with managing and organising the work of a company or organisation