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Created by
Kanchan
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Cards (11)
Want
Something a person
would
like
to
have
Want example
Ipad
Need
Required
to live
need example
Water
How to make a product sustainable?
Eco
friendly
materials
, reduce
amount
of material used, reusable
which sector is a service?
tertiary
What are the factors of where you place your business?
Location
,
price
,
competition,
environment
what are sole trader pros
You only
own
it, you’re the
boss
, you
keep all profit
What are sole trader
cons
?
unlimited
liability,
stressfull
making all decisions, difficult to
raise
finance, don’t have all
skills
for a business
What are a private limited company’s cons?
Directors’ legal duties strict,
shareholders
have to agree about profit distribution,
bigger
administrative costs than sole trader
What are a private limited company‘s pros?
Limited
liability,
easier
to raise
finance
as comany can
sell
shares, stable form of structure-company
continues
even when
shareholders
change