Y9 Bus/Econ - Unit 3 Sole Traders
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8 questions
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- Q1A sole trader is a business...with multiple ownerswith only one employeeowned and run by one personowned by shareholders20s
- Q2Examples of primary sector jobs are:Fishermen, miners, and farmersfactory workers, tailors, and craftsmensales people, travel agents, and bankers20s
- Q3Examples of secondary sector jobs are:factory workers, tailors, and craftsmensales people, travel agents, and bankersFishermen, miners, and farmers20s
- Q4Examples of tertiary sector jobs are:sales people, travel agents, and bankersfactory workers, tailors, and craftsmenFishermen, miners, and farmers20s
- Q5An example of a job often done by sole traders is:teacherfreelance designerfactory workerbanker20s
- Q6There are plenty of reasons why sole trader is the preferred legal structure for many businesses. One isstocks are cheapunlimited liabilityless working hoursall the profits go to the owner20s
- Q7___________? means there is no legal difference between the owner and the business. The owner is personally responsible for all the debts of the businessLimited liabilityUnlimited liability20s
- Q8There are plenty of reasons why sole trader is the preferred legal structure for many businesses. For example:raising financeIndependenceunlimited liabilityworkload20s