Principles of business

• A bank transfer is a payment made from one bank account to another bank account anywhere in the world
• Mobile money is a form of electronic money that can be sent and received using a mobile phone
• A order is a written instruction binding one party to pay a fixed sum on an agreed settlement date
• A shareholder is someone who is part-owner of the business the shareholder will typically have many shares
• A board of directors a small group given the responsibility for governing a business
• A subsidy is a payment made by the government to businesses to develop and grow whilst incurring high start up costs by the government
• The public sector of an economy provides a rage of governmental services, such as education, healthcare, and policing, miltary services, public transportation
• Public corporations provides commerical or insdustrial functions often in the monopolistic position
• "mono" means one like wasa, tntec, ramco (cooking gas)
• The private sector consists of businesses that are owned by individuals or groups of individuals.
• What are the objectives of the public sector? To provide services to the public, to provide goods and services to the public, to provide goods and services to the public.
• The objectives of the private sector are to maximise profits, maximise shareholder value, maximise efficiency and maximise social welfare.
• The differences between the private sector and the public sector are: