Country X is a mixed economy, with organisations in both the private and public sector. These organisations operate across different sectors of economic activity. Over the past 20 years, the primary sector has become less significant in country X’s economy. Table 3.1 summarises the changes. The government plans to encourage multinational companies to establish factories in country X.
(a)[2]
Define the term 'public sector'.
(b)[2]
Define the term 'gross domestic product' (GDP).
(c)[4]
Identify four kinds of business organisation in the private sector.
(d)[6]
Using the information in Table 3.1, explain two possible reasons why the primary sector's importance in country X has changed.
(e)[6]
Do you think the advantages to a country of having a multinational company based there always exceed the disadvantages? Justify your answer.
Worked solution & mark scheme
This 20-mark question has a full step-by-step worked solution and mark scheme. One marking point: “Businesses owned by the government/state” …