S3 Business Revision

Name one advantage of a Private Limited Company.

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Name one disadvantage of a Private Limited Company.

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What is the maximum number of people that can be in a partnership?

• 19

• 20

• 21

• 22

What is the minimum number of people that can be in a partnership?

• 1

• 2

• 3

• 4

What sector of the economy is Tesco in?

• Private

• Public

• Third

What does the term sole trader mean?

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What is a disadvantage of being a sole trader?

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Give one advantage of being a sole trader.

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A hair salon is in which sector of industry?

• Primary

• Secondary

• Tertiary

How many people run and own a sole trader?

• 1

• 2

• 3

• 4