POB-Business

The business is divided into two sectors. These are

• Sole trader and Partnership

• Public and Private

A person who decides to own their own business is known as a

This type of business consist of up to 20 members

The following listed companies are all public sector with the exception of

• St James High School

• Tax Administration of Jamaica

• MegaMart Wholesalers club

• Cornwall Regional Hospital

The aim of the private sector business is to________

One method for source of funding to start the business is through loan from family member or lending institutions.

• Private Sector

• Public Sector

List the formation of a sole trader business

List three type of partners

One of the disadvantage of a sole trader business is there exist problem of getting loan from the banks as they view the business has high- risk.

• True

• False

A person may choose to established their only business because

• To create employment for unemployed individuals

• To satisfy individual needs and wants

• To make profi

• All of the above