LO1 Defintions
- Created by: makbd
- Created on: 10-11-20 21:41
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- LO1 keywords
- Sectors
- Public- Organisations owned by the government with a purpose of improving the economy and
- Private- An organisation owned by an individual with the purpose if earning a profit
- Third- Organistaions that are privately owned with a purpose of benefiting society
- Business Actvity
- Primary-extraction of raw materials
- Secondary- Manufacturing products
- Tertiary- Selling the products
- Ownerships
- Sole Trader- A business is run by one person with a main aim of earning a profit,
- Partnership- A business run by two or more people ,looking to make a profit
- Private limited Company- A company owned by shareholders and shares can be sold to friends and family
- Public limited company -A company owned by shareholders. Shares can be sold on the stock market.
- Sectors
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