Summary - Topic 1

• This is a type of business that is owned and operated by a single owner.  

• Partnership

• Sole trader

• Company

• Corporation

• This is a type of business owned by 2-20 people.

• Partnership

• Sole trader

• Company

• Corporation

• This is a type of business that is more complex in terms of business structure.

• Partnership

• Sole trader

• Company

• E-commerce

This is a business that does not make profit.

This benefits the economy as these employees earn an income, spend money, creating further employment and pay taxes. What role of business is this?

• Producer

• Employer

• Exporter

• Innovator

People require goods and services, and society has advanced beyond subsistence living. What role of business is this?

• Producer

• Employer

• Exporter

• Innovator

Businesses are often trying to find new ways to improve sales and profits. What role of business is this?

• Producer

• Employer

• Exporter

• Innovator

The government uses these taxes to provide schools, hospitals, roads, etc. which benefit all of society. What role of business is this?

• Producer

• Employer

• Innovator

• Taxpayer

It refers to reducing waste and being environment-friendly.

• Community Involvement

• Stakeholder engagement

• Environmental sustainability

• Ethical Labour Practices

It refers to producing products without animal testing.

• Community Involvement

• Stakeholder engagement

• Environmental sustainability

• Ethical Labour Practices