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