Economic sectors

In this section you will learn -

• primary, secondary, tertiary and quaternary sectors businesses 

• the main features of different types of business ownership: sole traders, partnerships, private limited companies, public limited companies, franchises, co-operatives, joint ventures and social enterprises 

• the appropriateness of different types of business ownership 

• the concepts of unlimited liability and limited liability and their importance 

• the advantages and disadvantages of changing from one type of business ownership to another