Understanding Business - True/False

A partnership can have 1 - 40 people in the business

• True

• False

The 3 sectors of industry are primary, secondary, tertiary

• True

• False

Internal stakeholders are employees, managers and shareholders

• True

• False

A sole trader sits in the public sector of the economy

• True

• False

Taxation and exchange rates are examples of political factors

• True

• False

A private limited company is owned by shareholders and run by a board of directors

• True

• False

External stakeholder examples would be suppliers and banks

• True

• False

An employee would be interested in low prices and good quality products

• True

• False

An owner would be interested in high sales and profits

• True

• False

The local community may protest if they do not get what they want from the business

• True

• False