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7 Terms
Public limited company
A business with limited liability whose shares are publicly traded on the stock market
Social enterprise
A business that has aims/objectives which benefits society and is not for profit/its profits are reinvested into the business/community
Sole trader
A business that that is owned by one person who has unlimited liability
Stock market flotation
When a business sell shares publicly on the stock exchange for the first time
Opportunity cost
The next best alternative forgone when making a decision
Trade-off
A situation where having more of one thing leads to having less of something else
Leader
A person who inspires and motivates others to meet objectives