1. How should a business prioritize its objectives when aiming to expand its market share while maintaining profitability?
2. Arrange the following types of businesses in the order they were historically established or became prominent: sole trader, partnership, private limited company (Ltd), public limited company (PLC).
3. Which of the following business structures is a separate legal entity from its owners, with shares that are not available to the general public?
Business objectives — main goal?
To achieve profit, growth, or sustainability.
Types of businesses — examples?
Sole trader, partnership, Ltd, PLC, franchise.
Profit — definition?
Financial gain after costs are deducted.
Revenue — total?
Income from sales before costs.
Market Share — meaning?
Proportion of industry sales held.
Cash Flow — importance?
Maintains liquidity and operations.
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