1.2 Types of business

Question 1

Public sector organisations

Answer 1

• Owned by the government on behalf of the taxpayer
• Run by elected officials (committees, civil servants)
• Financed by the government through taxation
• Controlled by local/national government
• Provide services that the government consider to be basic needs but which will not be provided by the private sector as they are seen as too expensive or loss-making.

Question 2

private limited company ADVANTAGES