Types of Business Organizations

The video tutorial discusses the structure of business organizations, focusing on the differences between public and private sectors. It explains how public sector organizations are government-financed, while private sector businesses are entrepreneur-financed. Examples of public sector entities include the NHS and BBC, whereas private sector examples include sole traders and companies like John Lewis. The video also covers franchises as a method of business expansion, with examples like KFC and Krispy Kreme.

What is the main difference between a public sector and a public limited company?

• Public sector is always local, while public limited companies are always national.

• Public sector is a type of private sector business.

• Public sector is owned by the government, while public limited companies are privately owned.

• Public sector is financed by entrepreneurs, while public limited companies are government-owned.

Which of the following is an example of a public sector organization?

• BBC

• Dyson

• River Island

• John Lewis

What is an example of a business that moved from the private sector to the public sector?

• RBS

• River Island

• Dyson

• John Lewis

What characterizes unincorporated businesses in the private sector?

• They are listed on the stock exchange.

• They have limited liability.

• They are always partnerships.

• They have unlimited liability.

Which type of business is most common in the UK?

• Sole traders

• Public limited companies

• Franchises

• Partnerships

What is a characteristic of private limited companies?

• They have limited liability.

• They are owned by the government.

• They are listed on the stock exchange.

• They are always sole traders.

Which of the following is an example of a public limited company?

• NHS

• Papa John's

• KFC

• Tesco

What is a franchise?

• A government-owned business

• A type of sole trader

• A method of business expansion

• A type of public sector organization

Which of the following is a franchise that has expanded to the UK?

• BBC

• River Island

• Morrison's

• KFC

How can franchises originate?

• Only from incorporated businesses

• Only from public sector organizations

• Only from unincorporated businesses

• From both incorporated and unincorporated businesses