| A | B |
|---|
| Labour intensive | Production which relies more on labour than on capital. Most service industries are of this kind. |
| Monopoly | A market in which one firm controls the total output of a product. |
| Privatize | Transferring businesses rom the public to the private sector and also allowing the private sector to provide public services. |
| Public corporation | A government-owned organisation which is controlled by a board of governors chosen by the government.s |
| Public sector | Organizations and businesses which are owned and controlled by the government and other public authorities. |
| Public utilities | Publicly owned businesses which supply essential services such as water. |
| Subsidy | A grant from a public authority which allows a product to be sold below the market price. |
| Council tax | The annual charge made on home owners which is based on the estimated value of their propety. |
| Direct service organizational (DSO) | A coucil's own labour force whioch carries out mainly manual work such as street cleaning and park maintenance. |
| Planning permission | Council approval of a new business - or private - Development, or a change of use for buisness premises. |
