On a new double page in your exercise books, on your own write down the word or phrase and then define each of the following:

  1. Quality of life
  2. market share
  3. TNC (name)
  4. TNC (definition)
  5. microbusiness
  6. geographical spread
  7. local business
  8. GDP (name)
  9. GDP (definition)
  10. e-commerce
  11. industry
  12. primary industry
  13. secondary industry
  14. tertiary industry
  15. quaternary industry
  16. quinary industry
  17. incorporated business
  18. unincorporated business
  19. Sole trader
  20. partnership

Mind-map of ‘Type of Incorporated Companies’ pp 40-45 with advantages and disadvantages.

HOMEWORK

30 word summaries of ‘Factors influencing choice of business structures’:

  • overview
  • size
  • ownership structure
  • finance

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