We learn the difference between conciliation, mitigation and arbitration. We learn the meaning of deadlock, closed shop, restrictive practices and also the purpose of employers’ associations.
We distinguish between the current account, capital account and financial account. We also undestand the difference between balance of trade and balance of payments.
See why businesses need to monitor the stock level within the minimum and maximum stock levels and what is re-order level; Understand how the permanent (perpetual) and periodic inventory systems work; understand one method of mainting the stock record card: First In First Out (FIFO)
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