Chapter 3, Problem 2QFR

Select and examine any two economic systems that you think affect businesses most in South Africa. Give five reasons under each system of the impact they have had on your company specifically taking into consideration the King IV report and corporate social responsibility policies in the country and the impact these have had on business practice and have influenced how your company operates. Consider the type of enterprise you operate and the benefits this present to your company.

Explain the following concepts and their importance in production process (i) Productivity (ii) Efficiency (iii) Technology

Why the creation of cooperatives among farming communities important? What are examples of value adding activities for agricultural products? (Name at least 3)

Enlist and explain briefly the drivers of development.

Which of the following best describes an entrepreneur?a. A person who works as an office clerk at a major corporationb. A person who combines the factors of production to produce innovative productsc. A special type of capitald. Wealthy individuals who provide savings that stimulates the economy

Average production and managerial production and the difference between them

Draw and explain the product and productivity curve of a economymaking milk and cookies.what happens if a disease hits the economy of the cow

Successful business managers have a good understanding of the environment in which the business operates.’ Explain ONE internal influence and TWO external influences that a successful business owner must understand.

Create a mind map of the important concept/s of ECONOMIC ORGANIZATION.