UNIT 6

Which of the following is a characteristic of a sole trader?

• A. Limited liability

• B. Unlimited liability

• C. Can sell shares to the public

• D. Requires at least two owners

Which sector of the economy involves the extraction of natural resources?

• A. Primary sector

• B. Secondary sector

• C. Tertiary sector

• D. Quaternary sector

What is the main advantage of a public limited company?

• A. High level of confidentiality

• B. Unlimited liability

• C. Ability to raise large amounts of capital

• D. Simple and inexpensive to set up

Which of these businesses is part of the tertiary sector?

• A wheat farm

• A car manufacturing plant

• A retail clothing store

• A coal mining company

What distinguishes a partnership from a sole trader?

• A. Partnerships have limited liability.

• B. Partnerships involve more than one owner.

• C. Partnerships are required to register on the stock exchange.

• D. Partnerships are operated by the government.

Which word is defined as "The sale of state-owned assets such as public corporations to the private sector"?