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D.O.E.R

distribution of economic resources

TermDefinition
Economy An economy refers to the way in which goods and services are made, sold and used in a country or area
Economic resources Economic resources are the inputs that are used to create things or provide services I,e. Land, labour, capital, and enterprise
Economic system An economic system is the method by which countries distribute economic resources and trade goods and services
Public sector The public sector us the part of the economy that is owned and controlled by the government
Private sector The private sector refers to businesses owned by private individuals that produce and sell goods and services with the aim of making a profit
Third sector The third sector consists of social enterprises and not-for-profit organisations such as charities and voluntary organisations
Created by: Ava White
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