Sectors of Economy Flashcards
1
Q
What types of organisations are in the private sector?
A
Sole traders Partnerships LTD PLC Franchise
2
Q
What types of organisations are in the public sector?
A
Central gov
Local gov
Public gov
3
Q
What types of organisations are in the voluntary/third sector?
A
Charities
Social clubs
Voluntary organisations
Social enterprises
4
Q
What are the main aims of the private sector?
A
Spot gaps in the market
Turn new ideas into success
Maximise profits
5
Q
What are the main aims of the public sector?
A
Provide a high quality product/service
Provide essential services
Provide services that are not entirely profit driven
6
Q
Name the sectors of economy
A
Private
Public
Voluntary/Third
7
Q
What are the main aims of businesses in the voluntary/third sector?
A
Raise funds
Supports causes
Raise awareness
Provide service and facilities for members
