Business Retail

More owners means more disagreements for what type of structure?

• Public Limited

• Partnerships

• Private Limited

• Sole Trader

_______________is a legal term for being held accountable

• Liability

• Assets

• Bankruptcy

• Claim

Disadvantages for this type of business include: owner pays for everything, hard to get money to start from the bank, owner might lack skills & unlimited liability.

• Sole Proprietorship

• Partnership

• Corporation

• Limited liability company

Which of the following is not a feature of a private limited company?

• Shares can be issued to raise capital
• Shares can be bought  and sold on the Stock Exchange
• All owners of the business have limited liability
• The business continues after the death of a shareholder

An Ltd (Private limited company)

• Has unlimited liability
• Has limited liability
• Is listed on the stock market
• Can have up to 100 investors

Refers to the number of people who pass a retail location during a given period of time.

• Passage
• Traffic
• Movement
• Patronage

Which of the following is likely to be the main factor influencing the location of a small barber shop? Proximity to:

• Customers

• Labour

• Raw materials

• Competitors

A business has the choice to locate at Site A, which is close to the market, or Site B, which is close to materials and labour. The benefit of choosing Site A over Site B is that it is close to:

• Customers

• Suppliers

• Raw materials

• Employees

What is the main important factor for a retail business? 

• Labour Costs 
• Cost of raw materials 
• Footfall 
• Rent

The customers you would most like to attract are referred to as your

• competition
• market segments
• target market
• demographics