Early Economies Money Barter Economic Systems Business Organisation
100
The inability to satisfy human wants and needs
What is scarcity?
100
shells,beans
What is an example of commodity money?
100
the exchange of good and services for goods and services.
Whats is barter?
100
mixed
What type of economic system does st.lucia have?
100
public limited company
What is a PLC?
200
trade.
How do we fix scarcity?
200
generally acceptable
relatively scarce
divisible durable potable
What are the characteristics of money?
200
Double coincidence of wants, time consumption
What are two disadvantages of barter?
200
u.s.a and britan
Give 2 examples of a capitalist country
200
liable only for debts equivalent to investment
What is limited liability?
300
Human wants are unlimited and resources are limited
Why does scarcity occur?
300
trader allowed to not accept after a certain amount.
What does limited tender mean?
300
good: tangible services:intangible
What are goods and services?
300
china,cuba,lao's republic
Give three examples of countries with socialist economic systems
300
Legal agreement with 2-20 people who pool resources together to form a business with at least one owner accepting unlimited liability.
What is a partnership?
400
production,consumption and distribution of commodities take place.
What is economic activity?
400
where the buying and selling of products or services is conducted over electronic systems such as the Internet and other computer networks
What is E commerce?
400
double coincidence of wants, indivisibility of goods, rate of exchange and time consumption.
What are the features of battering?
400
-inequalities of wealth
-little to no prod. of public goods
-loads of production of demerit goods.
What are 2 disadvantages of capitalist economy?
400
main goal isn't to make a profit
Why are co-ops different than other companies?
500
Countertrade.
What is a modern day form of barter?
500
medium of exchange,unit of a/c , store of value , deferred payment
What are the functions of money?
500
Money
How were the problems of barter solved?
500
Amazon, Africa.
Where can one find a traditional economic system?
500
Co's name , address of office, objectives , authorized capital and declaration of limited liability.
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