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Thursday, 16 May 2024, 8:59 AM
Site: Bcom International Supply Chain Management
Course: Bcom International Supply Chain Management (IMM)
Glossary: SCS Glossary

Foreign Sector

Foreign sector refers to all countries, businesses and people outside the national border.

Goods Market

Goods market is a market where goods and services are traded.

Government

Government refers to all levels of government, from local councils to national government as well as all state owned enterprises.

Government Expenditure

Government expenditure refers to spending by all levels of government.

Household

Household is a collection of one or more consumers that live together.

Human Capital

Human capital refers to the quality of labour, i.e. skills levels.

Human Resources

Human resources refer to the quality and quantity of labour.

Imports

Imports are goods and services that flow into the country from beyond the national borders.

Income

Income as a micro concept refers to earnings for the factors of production.

Injection

Injection refers to money that enters the circular flow.