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Economics and Business for Year 7Urban Dots · Last updated on Nov 23, 2024 |
The Economics and Business for Year 7 Course is designed specifically for students in Year 7. This course aims to provide a comprehensive understandin
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g of the basic concepts and principles of economics and business. Through engaging lessons and interactive activities, students will learn about topics such as supply and demand, entrepreneurship, money management, and more. By the end of the course, students will have a solid foundation in economics and business, setting them up for success in future studies. Join EduRev's Economics and Business for Year 7 Course today!
Economics and Business for Year 7 Study Material
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Economics and Business for Year 7 Exam Pattern 2024-2025
Economics and Business for Year 7 Exam Pattern for Year 7
Introduction:
Economics and Business is an important subject that introduces young students to the fundamental concepts of finance, trade, and entrepreneurship. In Year 7, students are introduced to the basic principles of economics and business through interactive and engaging learning materials. Understanding the exam pattern for Year 7 can help students prepare effectively for their assessments.
Exam Pattern:
1. Multiple-choice questions: The exam for Year 7 Economics and Business often includes multiple-choice questions. These questions assess students' knowledge and understanding of key concepts, theories, and terminology in the subject.
2. Short answer questions: Students may also encounter short answer questions that require them to provide concise explanations or descriptions of economic and business concepts. These questions test their ability to apply their knowledge and think critically.
3. Case studies: Case studies are a common feature of Year 7 Economics and Business exams. Students are presented with real-life scenarios or business situations and are required to analyze and interpret the information provided. They may be asked to identify problems, propose solutions, or make informed decisions based on the given context.
4. Graphical analysis: Year 7 exams may include questions that require students to interpret and analyze graphs, charts, or data sets related to economic concepts. This assesses their ability to understand and draw conclusions from visual representations of economic data.
5. Essay questions: Some exams may include essay questions where students are expected to provide detailed and well-structured responses. These questions allow students to demonstrate their understanding of complex economic and business concepts and their ability to communicate their ideas effectively.
Tips for Exam Preparation:
1. Review class notes: Regularly reviewing class notes is essential to reinforce understanding and retain important information. Highlight key concepts, theories, and definitions to ensure a thorough understanding of the subject matter.
2. Practice past papers: Solving past exam papers can give students an idea of the exam format, types of questions, and time management. It also helps identify areas of weakness that require further attention.
3. Seek clarification: If there are any doubts or areas of confusion, don't hesitate to seek clarification from teachers or classmates. Understanding concepts thoroughly is crucial for success in exams.
4. Create study aids: Create concise study aids such as flashcards, mind maps, or summaries to help consolidate key information. These aids can be used for quick revision and reinforcement of important concepts.
5. Practice analytical thinking: Develop analytical thinking skills by engaging in discussions, analyzing current events, or solving business-related problems. This will enhance the ability to apply economic concepts to real-life situations effectively.
6. Time management: Practice time management skills by setting realistic goals and allocating specific study time for each topic. This will help avoid last-minute cramming and ensure comprehensive exam preparation.
Conclusion:
Understanding the exam pattern for Year 7 Economics and Business is essential for effective preparation. By familiarizing themselves with the types of questions and topics covered, students can approach their exams with confidence. Remember to review class notes, practice past papers, seek clarification, create study aids, practice analytical thinking, and manage time effectively to excel in the exams.
Introduction:
Economics and Business is an important subject that introduces young students to the fundamental concepts of finance, trade, and entrepreneurship. In Year 7, students are introduced to the basic principles of economics and business through interactive and engaging learning materials. Understanding the exam pattern for Year 7 can help students prepare effectively for their assessments.
Exam Pattern:
1. Multiple-choice questions: The exam for Year 7 Economics and Business often includes multiple-choice questions. These questions assess students' knowledge and understanding of key concepts, theories, and terminology in the subject.
2. Short answer questions: Students may also encounter short answer questions that require them to provide concise explanations or descriptions of economic and business concepts. These questions test their ability to apply their knowledge and think critically.
3. Case studies: Case studies are a common feature of Year 7 Economics and Business exams. Students are presented with real-life scenarios or business situations and are required to analyze and interpret the information provided. They may be asked to identify problems, propose solutions, or make informed decisions based on the given context.
4. Graphical analysis: Year 7 exams may include questions that require students to interpret and analyze graphs, charts, or data sets related to economic concepts. This assesses their ability to understand and draw conclusions from visual representations of economic data.
5. Essay questions: Some exams may include essay questions where students are expected to provide detailed and well-structured responses. These questions allow students to demonstrate their understanding of complex economic and business concepts and their ability to communicate their ideas effectively.
Tips for Exam Preparation:
1. Review class notes: Regularly reviewing class notes is essential to reinforce understanding and retain important information. Highlight key concepts, theories, and definitions to ensure a thorough understanding of the subject matter.
2. Practice past papers: Solving past exam papers can give students an idea of the exam format, types of questions, and time management. It also helps identify areas of weakness that require further attention.
3. Seek clarification: If there are any doubts or areas of confusion, don't hesitate to seek clarification from teachers or classmates. Understanding concepts thoroughly is crucial for success in exams.
4. Create study aids: Create concise study aids such as flashcards, mind maps, or summaries to help consolidate key information. These aids can be used for quick revision and reinforcement of important concepts.
5. Practice analytical thinking: Develop analytical thinking skills by engaging in discussions, analyzing current events, or solving business-related problems. This will enhance the ability to apply economic concepts to real-life situations effectively.
6. Time management: Practice time management skills by setting realistic goals and allocating specific study time for each topic. This will help avoid last-minute cramming and ensure comprehensive exam preparation.
Conclusion:
Understanding the exam pattern for Year 7 Economics and Business is essential for effective preparation. By familiarizing themselves with the types of questions and topics covered, students can approach their exams with confidence. Remember to review class notes, practice past papers, seek clarification, create study aids, practice analytical thinking, and manage time effectively to excel in the exams.
Economics and Business for Year 7 Syllabus 2024-2025 PDF Download
Year 7 Economics and Business
Syllabus:
1. Consumers & Producers
- Understanding the concept of consumers and producers
- Identifying the roles and responsibilities of consumers and producers in the economy
- Exploring the factors that influence consumer choices
- Analyzing the impact of consumer behavior on businesses
- Examining the importance of producers in meeting consumer needs and wants
2. Businesses & Objectives
- Introduction to different types of businesses (sole proprietorship, partnership, corporation)
- Understanding the concept of business objectives and their importance
- Identifying the stakeholders of a business and their interests
- Exploring the role of businesses in the economy
- Analyzing the relationship between businesses and their objectives
3. Successful Entrepreneurs
- Understanding the concept of entrepreneurship
- Exploring the characteristics and skills of successful entrepreneurs
- Examining the steps involved in starting a business
- Analyzing case studies of successful entrepreneurs and their businesses
- Identifying the challenges and opportunities in entrepreneurship
4. Work & Income
- Understanding the concept of work and its importance
- Exploring different types of work and their characteristics
- Examining the relationship between work and income
- Analyzing the factors that determine income
- Exploring the concept of wages and salaries
Assessment:
- Class participation and engagement in discussions
- Completion of individual and group activities
- Written assignments and quizzes
- Case study analysis
- Project-based assessments
- End-of-term examination
Resources:
- Textbooks and workbooks
- Online resources and educational websites (such as EduRev)
- Videos, documentaries, and multimedia materials
- Case studies and real-life examples
- Guest speakers and industry visits (if possible)
Overall Goal:
The overall goal of the Year 7 Economics and Business syllabus is to provide students with a foundational understanding of key economic and business concepts. Through engaging activities, discussions, and assessments, students will develop skills in critical thinking, problem-solving, decision-making, and communication. The syllabus aims to prepare students for future studies in economics, business, and entrepreneurship, as well as develop their financial literacy and understanding of the world of work.
Syllabus:
1. Consumers & Producers
- Understanding the concept of consumers and producers
- Identifying the roles and responsibilities of consumers and producers in the economy
- Exploring the factors that influence consumer choices
- Analyzing the impact of consumer behavior on businesses
- Examining the importance of producers in meeting consumer needs and wants
2. Businesses & Objectives
- Introduction to different types of businesses (sole proprietorship, partnership, corporation)
- Understanding the concept of business objectives and their importance
- Identifying the stakeholders of a business and their interests
- Exploring the role of businesses in the economy
- Analyzing the relationship between businesses and their objectives
3. Successful Entrepreneurs
- Understanding the concept of entrepreneurship
- Exploring the characteristics and skills of successful entrepreneurs
- Examining the steps involved in starting a business
- Analyzing case studies of successful entrepreneurs and their businesses
- Identifying the challenges and opportunities in entrepreneurship
4. Work & Income
- Understanding the concept of work and its importance
- Exploring different types of work and their characteristics
- Examining the relationship between work and income
- Analyzing the factors that determine income
- Exploring the concept of wages and salaries
Assessment:
- Class participation and engagement in discussions
- Completion of individual and group activities
- Written assignments and quizzes
- Case study analysis
- Project-based assessments
- End-of-term examination
Resources:
- Textbooks and workbooks
- Online resources and educational websites (such as EduRev)
- Videos, documentaries, and multimedia materials
- Case studies and real-life examples
- Guest speakers and industry visits (if possible)
Overall Goal:
The overall goal of the Year 7 Economics and Business syllabus is to provide students with a foundational understanding of key economic and business concepts. Through engaging activities, discussions, and assessments, students will develop skills in critical thinking, problem-solving, decision-making, and communication. The syllabus aims to prepare students for future studies in economics, business, and entrepreneurship, as well as develop their financial literacy and understanding of the world of work.
This course is helpful for the following exams: Year 7
How to Prepare Economics and Business for Year 7?
Preparing for Economics and Business in Year 7
Economics and Business is an exciting subject that introduces students to the fundamental concepts of money, trade, and entrepreneurship. It provides a foundation for understanding how the economy works and how businesses operate in the real world. If you are starting Year 7 and are eager to excel in this subject, here are some tips on how to prepare:
1. Familiarize yourself with the course content: Take the time to understand the key topics and concepts that will be covered in the Economics and Business course. This will give you a head start and make it easier for you to grasp new ideas as they are introduced.
2. Develop a strong foundation in math: Economics and Business often involves analyzing data, calculating percentages, and understanding graphs. Having a solid understanding of basic math concepts such as fractions, decimals, and percentages will greatly benefit you in this subject.
3. Stay updated with current affairs: Economics is a subject that is closely linked to the real world. Keeping up with current affairs and economic news will help you understand how economic principles are applied in the real world. Look out for news articles, podcasts, or documentaries that discuss economic issues.
4. Build your vocabulary: Economics and Business has its own set of specialized vocabulary. Take the time to learn key terms and their definitions. This will not only help you understand the subject better but also enable you to communicate your ideas more effectively.
5. Practice critical thinking: Economics and Business requires you to think critically and analyze different scenarios. Practice problem-solving and decision-making skills by engaging in activities that require you to make choices based on limited resources or evaluate different business strategies.
6. Read books and articles on economics: Expand your knowledge by reading books and articles written by economists or business experts. This will give you a deeper understanding of economic principles and provide real-life examples that can enhance your learning.
7. Participate in class discussions: Actively participate in class discussions and ask questions when you need clarification. This will not only help you understand the subject better but also demonstrate your enthusiasm and engagement to your teacher.
8. Utilize online resources: EduRev offers a comprehensive Economics and Business course for Year 7. Take advantage of the resources provided by EduRev, such as interactive lessons, quizzes, and practice exams. These resources are designed to help you reinforce your understanding of key concepts and prepare for assessments.
Remember, preparation is key to success in any subject. By following these tips and utilizing the resources available to you, you can confidently navigate the Economics and Business course in Year 7 and set a strong foundation for future studies in this field. Good luck!
Economics and Business is an exciting subject that introduces students to the fundamental concepts of money, trade, and entrepreneurship. It provides a foundation for understanding how the economy works and how businesses operate in the real world. If you are starting Year 7 and are eager to excel in this subject, here are some tips on how to prepare:
1. Familiarize yourself with the course content: Take the time to understand the key topics and concepts that will be covered in the Economics and Business course. This will give you a head start and make it easier for you to grasp new ideas as they are introduced.
2. Develop a strong foundation in math: Economics and Business often involves analyzing data, calculating percentages, and understanding graphs. Having a solid understanding of basic math concepts such as fractions, decimals, and percentages will greatly benefit you in this subject.
3. Stay updated with current affairs: Economics is a subject that is closely linked to the real world. Keeping up with current affairs and economic news will help you understand how economic principles are applied in the real world. Look out for news articles, podcasts, or documentaries that discuss economic issues.
4. Build your vocabulary: Economics and Business has its own set of specialized vocabulary. Take the time to learn key terms and their definitions. This will not only help you understand the subject better but also enable you to communicate your ideas more effectively.
5. Practice critical thinking: Economics and Business requires you to think critically and analyze different scenarios. Practice problem-solving and decision-making skills by engaging in activities that require you to make choices based on limited resources or evaluate different business strategies.
6. Read books and articles on economics: Expand your knowledge by reading books and articles written by economists or business experts. This will give you a deeper understanding of economic principles and provide real-life examples that can enhance your learning.
7. Participate in class discussions: Actively participate in class discussions and ask questions when you need clarification. This will not only help you understand the subject better but also demonstrate your enthusiasm and engagement to your teacher.
8. Utilize online resources: EduRev offers a comprehensive Economics and Business course for Year 7. Take advantage of the resources provided by EduRev, such as interactive lessons, quizzes, and practice exams. These resources are designed to help you reinforce your understanding of key concepts and prepare for assessments.
Remember, preparation is key to success in any subject. By following these tips and utilizing the resources available to you, you can confidently navigate the Economics and Business course in Year 7 and set a strong foundation for future studies in this field. Good luck!
Importance of Economics and Business for Year 7
Importance of Economics and Business for Year 7 Course
Economics and Business are essential subjects that play a crucial role in shaping a student's understanding of the world around them. In the Year 7 course offered by EduRev, students are introduced to the fundamental concepts of economics and business, providing them with a strong foundation for future learning and decision-making.
1. Develops Financial Literacy:
The study of economics and business equips Year 7 students with the knowledge and skills to become financially literate individuals. They learn about concepts such as budgeting, saving, and investing, which are vital for managing personal finances effectively. Understanding these concepts at an early age sets students up for a financially secure future.
2. Fosters Critical Thinking:
Economics and business education promotes critical thinking skills among Year 7 students. They learn to analyze economic situations, evaluate various business strategies, and make informed decisions based on logical reasoning. This ability to think critically is a valuable skill in both academic and real-life situations.
3. Encourages Entrepreneurship:
The Year 7 course introduces students to the world of entrepreneurship, inspiring them to develop innovative ideas and solutions. They learn about the basic principles of starting and managing a business, fostering an entrepreneurial mindset. This knowledge can empower students to pursue their own business ventures in the future.
4. Enhances Problem-Solving Abilities:
Economics and business education help Year 7 students enhance their problem-solving abilities. They learn to identify economic issues, analyze their causes and effects, and propose solutions. These problem-solving skills are transferable and can be applied to a wide range of situations, preparing students for challenges they may encounter throughout their lives.
5. Promotes Global Awareness:
Studying economics and business exposes Year 7 students to global economic issues and the interconnectedness of economies worldwide. They learn about international trade, economic development, and the impact of globalization. This global awareness nurtures a sense of responsibility and prepares students to be active participants in the global economy.
In conclusion, the Year 7 course in Economics and Business offered by EduRev is of utmost importance for students at this stage of their education. It not only provides them with valuable knowledge and skills but also helps shape their mindset and prepares them for future academic and professional endeavors.
Economics and Business are essential subjects that play a crucial role in shaping a student's understanding of the world around them. In the Year 7 course offered by EduRev, students are introduced to the fundamental concepts of economics and business, providing them with a strong foundation for future learning and decision-making.
1. Develops Financial Literacy:
The study of economics and business equips Year 7 students with the knowledge and skills to become financially literate individuals. They learn about concepts such as budgeting, saving, and investing, which are vital for managing personal finances effectively. Understanding these concepts at an early age sets students up for a financially secure future.
2. Fosters Critical Thinking:
Economics and business education promotes critical thinking skills among Year 7 students. They learn to analyze economic situations, evaluate various business strategies, and make informed decisions based on logical reasoning. This ability to think critically is a valuable skill in both academic and real-life situations.
3. Encourages Entrepreneurship:
The Year 7 course introduces students to the world of entrepreneurship, inspiring them to develop innovative ideas and solutions. They learn about the basic principles of starting and managing a business, fostering an entrepreneurial mindset. This knowledge can empower students to pursue their own business ventures in the future.
4. Enhances Problem-Solving Abilities:
Economics and business education help Year 7 students enhance their problem-solving abilities. They learn to identify economic issues, analyze their causes and effects, and propose solutions. These problem-solving skills are transferable and can be applied to a wide range of situations, preparing students for challenges they may encounter throughout their lives.
5. Promotes Global Awareness:
Studying economics and business exposes Year 7 students to global economic issues and the interconnectedness of economies worldwide. They learn about international trade, economic development, and the impact of globalization. This global awareness nurtures a sense of responsibility and prepares students to be active participants in the global economy.
In conclusion, the Year 7 course in Economics and Business offered by EduRev is of utmost importance for students at this stage of their education. It not only provides them with valuable knowledge and skills but also helps shape their mindset and prepares them for future academic and professional endeavors.
Economics and Business for Year 7 FAQs
| 1. What is economics? |  |
Economics is a social science that studies how individuals, businesses, governments, and societies make decisions about the allocation of scarce resources to satisfy unlimited wants and needs. It analyzes the production, distribution, and consumption of goods and services.
| 2. What is the difference between microeconomics and macroeconomics? | |
Microeconomics focuses on the behavior of individual economic agents such as households, firms, and industries. It examines their decision-making processes regarding the allocation of resources and the determination of prices. On the other hand, macroeconomics studies the overall behavior of the economy as a whole, including topics such as inflation, unemployment, and economic growth.
| 3. What is the role of businesses in the economy? | |
Businesses play a crucial role in the economy as they are responsible for the production and distribution of goods and services. They create employment opportunities, generate income, pay taxes, and contribute to economic growth. Additionally, businesses drive innovation and competition, which leads to improved products and services for consumers.
| 4. What are the main factors of production? | |
The main factors of production are land, labor, capital, and entrepreneurship. Land refers to all natural resources that are used in the production process. Labor includes the physical and mental effort exerted by individuals to produce goods and services. Capital represents the machinery, equipment, and other physical resources used in production. Lastly, entrepreneurship combines the other factors of production and involves the organization and management of resources to create new ventures and opportunities.
| 5. How does supply and demand affect prices in the market? | |
Supply and demand are fundamental concepts in economics that determine the prices of goods and services in the market. When demand for a product increases, while supply remains constant, the price tends to rise due to scarcity. Conversely, when supply exceeds demand, prices tend to decrease. The interaction between supply and demand creates a market equilibrium where the quantity demanded equals the quantity supplied at a specific price.
Best Coaching for Economics and Business for Year 7
Looking for the best coaching for Economics and Business for Year 7? Look no further than EduRev, the leading online education platform that offers free online coaching and study materials for students. With EduRev, you can download PDFs, summaries, and important chapters to enhance your understanding of Economics and Business. Whether you are a beginner or looking to deepen your knowledge, EduRev provides comprehensive resources to help you grasp business concepts and introduce you to entrepreneurship. From basic economics principles to understanding supply and demand, EduRev covers all the essential topics in Economics and Business.
With a focus on the economics and business curriculum and syllabus, EduRev offers a wide range of resources to support your learning journey. Their online textbooks, lesson plans, activities, and worksheets are designed to engage students and provide a holistic learning experience. For middle school students and beginners, EduRev offers content specifically tailored to their needs, ensuring that they can grasp complex concepts with ease.
EduRev also provides an extensive vocabulary of economics and business terms and definitions, allowing students to expand their knowledge and understanding of the subject. Additionally, they offer case studies, simulations, projects, and assessments to apply theoretical knowledge to real-world scenarios.
With the convenience of an online course and e-learning platform, EduRev ensures that students can access their study materials anytime, anywhere. Their study guide and assessments provide a comprehensive overview of the subject, allowing students to track their progress and identify areas for improvement.
So, if you are a Year 7 student looking for the best coaching for Economics and Business, visit EduRev's website or download their app today for a comprehensive and engaging learning experience.
With a focus on the economics and business curriculum and syllabus, EduRev offers a wide range of resources to support your learning journey. Their online textbooks, lesson plans, activities, and worksheets are designed to engage students and provide a holistic learning experience. For middle school students and beginners, EduRev offers content specifically tailored to their needs, ensuring that they can grasp complex concepts with ease.
EduRev also provides an extensive vocabulary of economics and business terms and definitions, allowing students to expand their knowledge and understanding of the subject. Additionally, they offer case studies, simulations, projects, and assessments to apply theoretical knowledge to real-world scenarios.
With the convenience of an online course and e-learning platform, EduRev ensures that students can access their study materials anytime, anywhere. Their study guide and assessments provide a comprehensive overview of the subject, allowing students to track their progress and identify areas for improvement.
So, if you are a Year 7 student looking for the best coaching for Economics and Business, visit EduRev's website or download their app today for a comprehensive and engaging learning experience.
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Course Description
Economics and Business for Year 7 for Year 7 2024-2025 is part of Year 7 preparation. The notes and questions for Economics and Business for Year 7 have been prepared
according to the Year 7 exam syllabus. Information about Economics and Business for Year 7 covers all important topics for Year 7 2024-2025 Exam.
Find important definitions, questions, notes,examples, exercises test series, mock tests and Previous year questions (PYQs) below for
Economics and Business for Year 7.
Preparation for Economics and Business for Year 7 in English is available as part of our Year 7 preparation & Economics and Business for Year 7 in Hindi for Year 7 courses.
Download more important topics related with Economics and Business for Year 7, notes, lectures and mock test series for Year 7 Exam by signing up for free.
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Economics and Business for Year 7
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Economics and Business for Year 7
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Additional Information about Economics and Business for Year 7 for Year 7 Preparation
Economics and Business for Year 7 Books
Economics and Business for Year 7 Books is your ultimate resource for mastering the Year 7 Exam.
Get with a wide array of carefully selected books that cover every aspect of the Economics and Business for Year 7 syllabus.
From in-depth subject knowledge to practice papers, our collection has it all.
Boost your confidence by attempting question papers and gain valuable insights from detailed paper analysis.
Prepare with precision using our mock tests, designed to simulate the real exam experience.
With Economics and Business for Year 7 Year 7 Books, you'll have the best study material at your fingertips, ensuring your success in the Year 7 Exam.
Economics and Business for Year 7 Notes PDF Download
Access the comprehensive Economics and Business for Year 7 Notes for Year 7 Exam at EduRev.
Elevate your preparation with well-structured study material and concise notes.
Stay updated with the latest exam pattern and syllabus.
Prepare confidently with practice papers and question banks. Enhance your understanding through detailed paper analysis.
Get access to toppers' notes for valuable insights.
With Economics and Business for Year 7 Notes PDF download, you can streamline your study and be well-prepared for the Year 7 Exam.
Achieve success with EduRev's trusted study resources and boost your scores effortlessly.
Economics and Business for Year 7 Previous Year Papers
Economics and Business for Year 7 Previous Year Papers from EduRev: Prepare for Year 7 exam with ease using our extensive collection of Previous Year Papers.
Access question papers, practice papers, and in-depth paper analysis to master the exam pattern and syllabus.
Stay updated on the exam date and results while practicing in your preferred language.
Whether you need preparation tips, best books, study material, or subject-specific syllabus, EduRev's official website has you covered.
Enhance your exam readiness with Toppers' notes and comprehensive videos.
Trust EduRev's Previous Year Papers for a successful Year 7 exam journey.
Important Questions for Economics and Business for Year 7
Important questions are crucial for acing your Year 7 exam.
Understanding the question pattern and types is essential for effective preparation.
Explore previous years' question papers to get a sense of the language and format used.
Practice papers are available to hone your skills and assess your progress.
Analyzing question trends can give you an edge during the exam. Our recommended books and study material cover all topics in the syllabus.
Additionally, coaching videos provide valuable insights. Stay updated on the official website for exam dates and results.
Prepare with confidence, as EduRev has got your question-related needs covered for Economics and Business for Year 7 .
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