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Economic Management Sciences > Exam Revision #2 > Flashcards

Exam Revision #2 Flashcards

1
Q

3 types of societies

A

self sufficient
modern society
rural society

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2
Q

businesses can introduce

A

bio-degradable products
recycling
minimise wastage
sustainable energy resources

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3
Q

South Africa created GEAR to increase the standard of living: GEAR?

A

Growth
Employment
And
Registration

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4
Q

Factors of production: (CELL)

A

capital
entrepreneurship
labour
land

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5
Q

is rent fixed or working

A

working

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6
Q

is lights and water fixed or working

A

fixed

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7
Q

is labour fixed or working

A

fixed

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8
Q

is salary wages fixed or working

A

fixed

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9
Q

is advertising fixed or working

A

working

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10
Q

3 living standards (RDP)

A

reconstruction
development
programme

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11
Q

inflation definition

A

the continuous rise in prices

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12
Q

how to improve countries

A

improve standard of living
improve productivity
slow the population growth down
manage resources better

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Economic Management Sciences (2 decks)

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