Understanding Business Flashcards
1
Q
3 sectors of economy
A
public, private, third
2
Q
3 sectors of industry
A
primary, secondary, tertiary
3
Q
organisations in public sector of economy
A
national government, local government
4
Q
organisations in private sector of economy
A
sole trader, partnership, private limited company
5
Q
organisations in third sector of economy
A
charities, voluntary organisations, social enterprises
6
Q
features of a sole trader
A
single ownership, unlimited liability, taxation, flexibility
7
Q
features of a partnership
A
shared ownership, joint management, flexibility, unlimited liability
8
Q
features of a limited company (LTD or PLD)
A
9
Q
A
9
Q
A
10
Q
A
11
Q
A
12
Q
A
13
Q
A
14
Q
A
