Revision Notes
Partnerships
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Partnerships Ownership of business shared between partners Partnerships have between two and twenty members. Ownership of the business is shared between all partners. Deed of Partnership The rules of the partnership described in the Deed of Partnership. This is a document containing an agreement that details the rights and obligations of each partner. Examples of […]
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Sole Trader
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Sole Traders This is a business that is owned by one person. A sole trader is one of the most common business forms in the UK. A sole trader can have more than one employee. Advantages Less accounting and administration required Easy to close down the business Quicker decision-making It is cheaper and quicker to […]
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Business Ownership Types/ Forms of Business
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Business Ownership Types/ Forms of Business The main forms of business in the UK are highlighted below. Sole trader (Click here) Partnership (Click here) Private Limited Company (“Ltd”) (Click here) Public Limited Company (“Plc”) (Click here) Co-operatives Franchises Public sector
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Unlimited & Limited Liability
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Unlimited Liability Business owners are legally liable for all debts of the business. (Sole Traders or Partnerships have unlimited liability) The business owners may even have to sell their own possessions to pay off their debts. Limited liability Shareholders can only lose the value of their (shares) investment in the business. Shareholders are separate from […]
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Market Capitalisation
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Market Capitalisation This is the total market value of all of a company’s outstanding shares. Market capitalisation is calculated by multiplying a company’s outstanding shares by the current market price of one share. This figure is used to determine a company’s size.
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Dividend
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Dividend A dividend is a percentage of the company’s profits paid out to certain shareholders. The decisions regarding how many and what type of dividends to provide are made by the board of directors. Dividends can be issued as cash payments, as shares of stock, or other property.
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PESTLE – External Environment
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PESTLE – External Environment The PESTLE acronym is used to identify the macro (external) factors facing a business. P = Political E = Economic S = Social T = Technological L = Legal E = Environment Political factors This factor is influenced by the government’s political actions. Government intervention through taxes, regulations and policies will impact […]
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Market Research
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Market Research Market research is the process of collecting and analysing information about the consumers and competitors in the market. Primary Research Primary research is research that is done first hand e.g. focus groups, questionnaires, interviews and surveys. Advantages of primary research 1.Up to date Primary research is up to date as the research is […]
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Public Expenditure – AS/A LEVELS/IB/IAL
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Level: AS Levels, A Level, GCSE – Exam Boards: Edexcel, AQA, OCR, WJEC, IB, Eduqas – Economics Revision Notes Difference between Capital Expenditure, Current Expenditure and Transfer Payments Capital Expenditure – this is money spent on assets that can be used several times. For example, it can be government expenditure on new infrastructure Current Expenditure – this […]
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