PST311L Study guides, Class notes & Summaries

PST311L - Economic Literacy And Entrepreneurship And Solutions to Chapter 2 Exercises . SOLVED EXERCISES S1. (a) Assuming a sufficient supply of yogurt is available for all shoppers, each shopper is simply making a decision. If some flavors of yogurt were in short supply, then it would be a game, because shoppers could, for example, make sure to arrive at the store early in order to get their preferred selections. (b) Again, probably not an interaction between mutually aware players. (The...

PST311L Study notes

Acquiring assets Yes, I agree, various steps should be considered in the establishment of a business. Assets are investments that will earn money over time. Anything that you buy that rises in value can be considered an asset. That said, assets most commonly refer to financial investments in stocks, bonds, or commodities. Each asset has its own risks and potential. It is often a good idea to buy different types of assets to maximize your investment. When assets are recorded on the balance sheet ...

PST311L Assignment 2 questions and answers

PST311L Assignment 1 questions and answers

PST311L Assignment 2 Semester 1: 2019 Mark: 100%

PST311L Assignment 2

Economic Literacy and Entrepreneurship PST311L Assignment 1 marked 90%

When assets are recorded on the balance sheet of a business, they are classified as being either short-term or long-term assets. A short-term asset is expected to be consumed within one year, while long-term assets are to be consumed in more than one year. Some intangible assets are not recorded on the balance sheet, unless they have been purchased or acquired. For example, a taxi license can be recognized as an intangible asset, because it was purchased. In addition, the value of a customer lis...

1.2.1 Traditional mechanism • South Africa’s economy was traditionally rooted in the primary sectors – the result of a wealth of mineral resources and favourable agricultural conditions. But recent decades have seen a structural shift in output. Well, a traditional economy is that in which customs, traditions, and beliefs are rich in developing the goods and services for the area. In other words, a traditional economy is one that is built around the way a society lives. The goods and s...