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Which of the following is one of the Economic Systems?
Planned Economic System
All of these options
What products are produced in a Market economy?
Only what the Government allows
All required items
Only what the rich decide is required
One disadvantage of a Market System is ...
People can work hard and become successful
Entrepreneurship can lead to financial reward
Little motivation to provide public services
Resources are not wasted
If the price of petrol is set to go up next Wednesday, the demand for petrol will ...
Decrease until next Wednesday
Remain the same
Increase next Tuesday
Result in an increase in car sales
South Sudan, Chad, Brazil & South Africa are examples of ...
First World Countries
Second World Countries
Third World Countries
Theoretically in a ___________ economic system there should be no unemployment.
If the price of Coca Cola where to increase to R24.99 for a 2 litre bottle, and the price Fanta were to decrease to 13,99 for a 2 litre bottle, the demand curve for Coca Cola would ....
Shift to the left
Stay the same
Shift to the right
affect the number of bottles produced
The demand curve has a ___________ gradient.
Which of the following Entrepreneurial qualities would Elon Musk possess?
All of these
Which of the following would ensure you are developing the correct product for your target market?
None of these options