Business - CORRECT ANSWER an organization or economic system where goods & services
are exchanged for money.
Private sector - CORRECT ANSWER the part
... [Show More] of the economy that involves the transactions of
individuals and businesses
Public sector - CORRECT ANSWER the part of the economy that is controlled by the
government
Not for profit sector - CORRECT ANSWER A business dedicated to furthering a particular
social cause or advocation for a shared point of view
Sole trader - CORRECT ANSWER A business in which one person provides the permanent
finance and, in return, has full control of the business and is able to keep all of the profits
Partnership - CORRECT ANSWER a business organization owned by two or more persons who
agree on a specific division of responsibilities and profits
Private limited company - CORRECT ANSWER A business owned by shareholders with limited
liability but whose shares cannot be bought by or sold to the general public.
Public limited company - CORRECT ANSWER A limited company whose shared are freely
sold and traded
cooperative - CORRECT ANSWER a business organization owned and operated by a group of
individuals for their mutual benefit
limited liability - CORRECT ANSWER A form of business ownership in which the owners are
liable only up to the amount of their individual investments.
unlimited liability - CORRECT ANSWER The owner is personally and fully responsible for all
losses and debts of the business
Primary sector - CORRECT ANSWER The portion of the economy concerned with the direct
extraction of materials from Earth's surface, generally through agriculture, although sometimes
by mining, fishing, and forestry.
Secondary sector - CORRECT ANSWER the part of the economy that transforms raw materials
into manufactured goods
Tertiary sector - CORRECT ANSWER the part of the economy that involves services rather than
goods
Quaternary sector - CORRECT ANSWER Jobs that deal with the handling and processing of
knowledge and information.
Local business - CORRECT ANSWER usually one of a kind, and it relies on local consumers to
generate business
National business - CORRECT ANSWER A business that operates within just one country.
International business - CORRECT ANSWER business activities that occur between two or
more countries
Shareholder - CORRECT ANSWER A person who invests in a corporation by buying stock and
is a partial owner [Show Less]