Business 1.4

Define sole trader

• 1 person owns the business

• 2 or more people own the business

• The business is owned by shareholders

• They sell the bottom of shoes

Define partnership

• 1 person owns the business

• 2 or more people own the business

• The business is owned by shareholders

• They sell the bottom of shoes

Which of these types of business ownership has unlimited liability?

• Private limited company

• Public limited company

• Sole trader

• Partnership

• Private unlimited company

Which of these types of business ownership has limited liability?

• Private limited company

• Public limited company

• Sole trader

• Partnership

• Private unlimited company

Define franchisee

• The business which sells the rights for others to sell under their name

• The business/individual which purchases the rights to sell under another business' name

• A business owned by someone named fran

• A business owned by shareholders

Which of the following are examples of a franchise?

• McDonald's

• Subway

• King du

• Amazon

Which stakeholder can a partnership and sole trader not have?

• Shareholder

• Government

• Employee

• Customer

Which of the following is able to raise money through selling shares?

• Private limited company

• Public limited company

• Sole trader

• Partnership

• Private unlimited company

Which of the following are methods of location? Proximity to...

• Market

• Competition

• Labour

• Raw materials

Which of these come under the marketing mix?

• Price

• Promotion

• Position

• Prime candidate