Sectors of Industry: Primary, Secondary, Tertiary, Sectors of the Economy: Private, Public, Third, Factors of Production: Land, Labour, Capital , Enterprise, Goods: iPhone, Apple, Americano from Costa, Irn Bru, Services: Hair cut, Bus journey, Theatre show, Netflix, Sole Traders: owned by 1 person, has unlimited liability, financed by 1 person, quick to set up, Partnerships: owned by 2 or more people, shared responsibility and profits, potential disagreements, Private Limited Company: has limited liability, accounts made public on companies house, owned by shareholders, controlled by board of directors, time consuming to set up,
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Understanding Business
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Emilycward15
KS4
Business
Business activity
Enterprise and entrepreneurship
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