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Demonstrate knowledge of company resources.
Define the term ‘company resource’.
List the resources of a company.
Demonstrate an understanding of the factors of production.
Outline what constitutes the factors of production.
Give a brief description of the inputs and outputs of a company.
Outline the circular flow of income.
Demonstrate an understanding of the limitations of the resources of a company.
(E2: 12 + 15)
Outline the limitations of the factors of production.
Identify legislation relating to a company’s resources.
Understand the basic economic problem.
Comment briefly on the function of an ‘economy’.
Comment briefly on the ‘basic economic problem’.