Reading 2 Flashcards
What are the three different ways of classifying the business?
By size industry and ownership structure
What is a micro business
Micro business is a business that has fewer than five people
How does the European commission determine the size of business
A combination of number of employees and turnover
What is an industry
A group of businesses that are related in terms of the main activity
What is the sole trader
A person running a business as an individual
What is a limited company
An organisation set up by its owner to run the business
What is a private limited company
Shares are not traded on the stock market
What are the public limited company
Stocks and shares can be traded on the stock market
What is a business partnership
An arrangement where two or more individual share ownership of the business
