Country X has a mixed economy with both private and public sector organisations. These organisations are involved in different sectors of economic activity. In the last 20 years the primary sector has become less important to country X’s economy. A summary of the changes is shown in Table 3.1. The government is planning to encourage multinational companies to set up factories in country X. Table 3.1 Economic sectors in country X as a percentage of GDP Tertiary Secondary Primary Year 25% 15% 60% 50% 30% 20% Define ‘public sector’. Define ‘gross domestic product’ (GDP). Identify four types of business organisation in the private sector. Type 1: Type 2: Type 3: Type 4: 1 2 Using the data from Table 3.1, explain two possible reasons for the changing importance of the primary sector in country X. Reason 1: Explanation: Reason 2: Explanation: Do you think the benefits to a country of having a multinational company located there are always greater than the drawbacks? Justify your answer. [ 1 2 7115_w23_qp_12 THEORY 2023 Paper 1, Variant 2 View
Country W has a mixed economy. The public sector has grown in recent years. The Government has also introduced many new laws regulating business behaviour and protecting employees and consumers. What is meant by the term ‘mixed economy’? Identify two objectives often set by businesses in the public sector. Objective 1: Objective 2: Identify and explain two reasons why the size of the public sector might increase over time. Reason 1: Explanation: Reason 2: Explanation: Identify and explain three ways in which consumers might benefit from consumer protection laws. Way 1: Explanation: Way 2: Explanation: Way 3: Explanation: The management of many businesses in the private sector think that employment legislation is making them less competitive. Do you agree? Justify your answer. 7115_w11_qp_11 THEORY 2011 Paper 1, Variant 1 View