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