HBM - Understanding Business

What are the sectors of economy?

• Private, Public, Third

• Primary, Secondary, Tertiary, Quaternary

• Soletrader, Partnership, Ltd, PLC

• Primary, Secondary, Tertiary

What are the sectors of industry?

• Private, Public, Third

• Primary, Tertiary, Quaternary

• Private, Primary, Secondary

• Primary, Secondary, Tertiary, Quaternary

What organisations have unlimited liability?

• Soletraders

• Private Limited Companies

• Partnerships

• Public Limited Companies

What does the primary sector deal with?

• Manufacturing

• Providing a service

• Extracting of raw materials

• ICT, Research and Development

Who owns the organisations in the public sector?

• shareholders

• government

• boards of trustees

• private individuals

How are organisations in the third sector financed?

• share issue

• donations

• bank loans

• debentures

Who controls organisations in the third sector?

• board of directors

• government

• board of trustees

• shareholders

Who is the franchisee?

• the owner of the franchise

• the person investing in the franchise and opening up a branch

What is a franchise?

• the right to operate under a well established name

• government owned business

• charity

To be classed as multinational, you have to...

• sell products around the world

• have operations based in several countries

• have shops in several countries

• have a home country and operate solely from there