Sole trader - Its a business owned by only one person, Partnership - Form of business in witch two or more people agree to jointly own a business, Shareholders - Owners of a limited company, they buy shares that represent part-ownership of the company, Primary sector - Uses natural resources and turns them into raw material used by another businesses, Need - Good or service essential for living., Specialisation - Ocurrs when people and businesses concentrate in what they are best at., Entrepreneur - Is a person who organises, operates and takes the risk for a new business venture,

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