Studied by 1 personSole trader
________: business in which one person provides the permanent finance and, in return, has full control of the business and is able to keep all of the profits.
certificate
Share: ________ confirming part ownership of a company and entitling the shareholder to dividends and certain shareholder rights.
Partnership
________: business formed by two or more people to carry on a business together, with shared capital investment and, usually, shared responsibilities.
Charities
________: organization set up to raise money to help people in need or to support causes that require funding.
Ltd
Private limited company (________): small to medium- sized business that is owned by shareholders who are often members of the same family; this company can not sell shares to the general public.
Microfinance
________: provision of very small loans by specialist finance businesses, usually not traditional commercial banks.
Privatization
________: sale of public sector organizations to the private sector.
Social enterprise
________: business with mainly social objectives that reinvests most of its profits into benefiting society rather than maximizing returns to owners.
Public sector
________: comprises organizations accountable to and controlled by central or local government (the state)
private partnership
Public- ________ (PPP): involvement of the private sector, in the form of management expertise and /or financial investment, in public sector projects aimed at benefiting the public.
Public sector organizations
________ provide essential goods and services for individual citizens and organizations.
Public sector
comprises organizations accountable to and controlled by central or local government (the state)
Private sector
comprises businesses owned and controlled by individuals or groups of individuals
Mixed economy
economic resources are owned and controlled by both private and public sectors
Free-market economy
economic resources are owned largely by the private sector with very little state intervention
Command economy
economic resources are owned, planned and controlled by the state
Privatization
sale of public sector organizations to the private sector
Public corporation
business enterprise owned and controlled by the state also known as nationalized industry or public sector enterprise
Sole trader
business in which one person provides the permanent finance and, in return, has full control of the business and is able to keep all of the profits
Partnership
business formed by two or more people to carry on a business together, with shared capital investment and, usually, shared responsibilities
Limited liability
the only liability or potential loss a shareholder has if the company fails is the amount invested in the company, not the total wealth of the shareholder
Share
certificate confirming part ownership of a company and entitling the shareholder to dividends and certain shareholder rights
Shareholders
individuals or institutions that buy/own shares in a limited company
Private limited company (Ltd)
small to medium-sized business that is owned by shareholders who are often members of the same family; this company cannot sell shares to the general public
Public limited company (pic)
limited company, often a large business, with the legal right to sell shares to the general public; its share price is quoted on the national stock exchange
Social enterprise
business with mainly social objectives that reinvests most of its profits into benefiting society rather than maximizing returns to owners
Economic
to make a profit or surplus to reinvest back into the business and provide some return to the owners
Social
to provide jobs or support for local, often disadvantaged, communities
Environmental
to protect the environment and to manage the business in an environmentally sustainable way
Cooperative
group of people acting together to meet the common needs and aspirations of its members, sharing ownership and making decisions democratically
Microfinance
provision of very small loans by specialist finance businesses, usually not traditional commercial banks
Public-private partnership (PPP)
involvement of the private sector, in the form of management expertise and/ or financial investment, in public sector projects aimed at benefiting the public
Private finance initiative (PFI)
investment by private sector organizations in public sector projects
Non-profit organization
any organization that has aims other than making and distributing profit and which is usually governed by a voluntary board
Non-governmental organization (NGO)
legally constituted body with no participation or representation of any government which has a specific aim and purpose, e.g
Charities
organization set up to raise money to help people in need or to support causes that require funding
Public sector
Public sector comprises organizations accountable to and controlled by central or local government (the state)
Private sector
Private sector comprises businesses owned and controlled by individuals or groups of individuals
Mixed economy
Economic resources are owned and controlled by both private and public sectors
Free-market economy
Economic resources are owned largely by the private sector with very little state intervention
Command economy
Economic resources are owned, planned and controlled by the state
Privatization
Sale of public sector organizations to the private sector
Public corporation
Business enterprise owned and controlled by the state also known as nationalized industry or public sector enterprise
Sole trader
Business in which one person provides the permanent finance and, in return, has full control of the business and is able to keep all of the profits
Partnership
Business formed by two or more people to carry on a business together, with shared capital investment and, usually, shared responsibilities
Limited liability
The only liability or potential loss a shareholder has if the company fails is the amount invested in the company, not the total wealth of the shareholder
Share
Certificate confirming part ownership of a company and entitling the shareholder to dividends and certain shareholder rights
Shareholders
Individuals or institutions that buy/own shares in a limited company
Private limited company (Ltd)
Small to medium-sized business that is owned by shareholders who are often members of the same family; this company cannot sell shares to the general public
Public limited company (pic)
Limited company, often a large business, with the legal right to sell shares to the general public; its share price is quoted on the national stock exchange
Social enterprise
Business with mainly social objectives that reinvests most of its profits into benefiting society rather than maximizing returns to owners
Triple bottom line
Economic, social and environmental
Cooperative
Group of people acting together to meet the common needs and aspirations of its members, sharing ownership and making decisions democratically
Microfinance
Provision of very small loans by specialist finance businesses, usually not traditional commercial banks
Public-private partnership (PPP)
Involvement of the private sector, in the form of management expertise and/or financial investment, in public sector projects aimed at benefiting the public
Private finance initiative (PFI)
Investment by private sector organizations in public sector projects
Non-profit organization
Any organization that has aims other than making and distributing profit and which is usually governed by a voluntary board
Non-governmental organization (NGO)
Legally constituted body with no participation or representation of any government which has a specific aim and purpose, e.g. supporting disadvantaged groups in developing countries or advocating the protection of human rights
Charities
Organization set up to raise money to help people in need or to support causes that require funding
Public sector organizations
Public sector organizations provide essential goods and services for individual citizens and organizations
Private sector organizations
Private sector organizations are owned and operated by individuals or groups of people. These organizations are usually operated for a profit, but not all are.
Note
Flashcard