Business Flashcards
What is Lucy’s Law?
Must buy puppies or kittens directly from the breeder, the breeder must show the puppies interacting with their mother.
Private Sector
Private sectors are owned and run by private individuals
Public Sector
Public sectors are owned and run by the government for the people.
Sole Trader
A person who is the exclusive owner of a business, entitled to keep all profits after tax has been paid but liable for all losses.
Limited Company
A private business set up in such a way that legally separates the company from the owner.
Value of output
The market value of all the goods and services produced by an enterprise during an accounting year.
Gross Domestic Product
The monetary value of all the finished goods and services produced within a country’s borders in a specific time period.
