676395
| Question | Answer |
| Profit Margin | increase sales promotion - reduce prices - use differnet methods of advertising |
| Objective | an aim to achieve with a period(time) - short term |
| Aims | aims is what business is trying to achieve in the end - their final target |
| Private sector | These are the business owned by PRIVATE individuals eg: Sole trader, Private limited companys |
| Public Sector | An orginisation that is owned by government |
| Public Limited Company | a business who's share are listed on stock exchange |
| Sole trader | One ownership |
| Partnership | These are business where two or more people own the business - max 20 people -own the business together |
| Private Limited company | often FAMILY ran business with the protection of limited liability |
| Franchises | small business trading with agreement of large firm |
| Co-operative | collectively owned by workers/ cusotmers |
| Public Ownership | orginsation |
| Partnership Advantage and Disadvantge | advanatge - trust your partner,they can back you financially,divde your work among yourself and rnage fo skills can be shared disadvantage - cause chaos, difficult to divide work equally, dividing money and making dicision can cause disaggrement |
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