Key Terms in Business and Economics Some key terms necessary of the edexcel exams at AS level Unit 2 3.5 / 5 based on 6 ratings ? Business Studies & EconomicsASAll boards Created by: SophieCreated on: 16-01-12 09:27 Abnormal Profit is any level of profit over and above normal profit 1 of 7 Capactiy utilisation measures what proportion of the theoretical maximum possible outpt is actually produced 2 of 7 Cyclic unemployment caused by a downturn in the economic cycle 3 of 7 Seasonal Unemployment occurs when there is a seasonal variation in demand 4 of 7 Structural Unemployment when people have the wrong skills for the employment on offer 5 of 7 Regional Unemployment the rate of unemployment in different areas of the Uk 6 of 7 Frictional Unemlpoyment when people are in between jobs 7 of 7
Comments
No comments have yet been made