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land, labour, capital, enterprise
Name the 4 factors of production.
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Primary- Extraction of raw materials
Secondary- Manufacturing or processing. Includes turing raw matericals into goods.
Name and define the three economic sectors
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Public sector includes organizations that are within the control or diretion of the governement. Private sectors organizations are owneed by individuals.
What is the difference between public and private sector organizations? Give an example of each.
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-You indentified a business opportunity or gap in the market.
-Lost your job so it is easier now to start your own business. -Just acquired an inheritance. -Following your family's foots steps.
Name 4 reasons for starting a business.
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