business structures Flashcards
1
Q
aims of private sector
A
survive, grow, profit
2
Q
aims of public sector
A
provide essential services
3
Q
list the legal structures
A
- sole trader
- partnerships
- plc
- ltd
4
Q
advantages and disadvantages of sole trader
A
+easy to set up
-unlimited liability
5
Q
advantages and disadvantages of partnerships
A
+greater availability of capital
-cause strains
6
Q
advantages and disadvantages of ltd
A
+ limited liability
-high costs in legal procedures
7
Q
advantages and disadvantages of plc
A
+capital can be raised through selling shares
-increased legal requirements
8
Q
whats non for profit organisations
A
non governmental
- social enterprise
- charities
- voluntary
- co - operatives
