Quick answer: Balance of payments disequilibrium is corrected through automatic adjustment (exchange rates and prices) and deliberate measures. Monetary measures
Quick answer: The business environment is made up of internal and external factors that are interdependent and constantly changing. It
Quick answer: The balance of payments records all economic transactions between a country’s residents and the rest of the world.
Quick answer: A mixed economy combines private enterprise and market prices with state ownership, planning and welfare. Advantages: economic freedom
Quick answer: Advantages of a socialist economy: less inequality, basic needs covered, low open unemployment, rapid build-up of heavy industry,
Quick answer: A capitalist economy runs on private ownership, profit and free markets. Its advantages are efficient production, good use
Quick answer: Industrial relations is the relationship between employers, employees and their unions, and the government. It has three faces
Quick answer: Social injustice in the business environment shows up in unequal access to income, jobs, education, health, water and
Quick answer: Branch accounting records the transactions of each branch separately so a business can see each branch’s profit. The
Quick answer: Departmental accounts show the profit of each department of a store separately, so management can see which departments