Explore
Learn: Ownership
AQA GCSE Business 8132
Ready to start this lesson?
Sign in to track your progress. 17 steps including 9 interactive questions.
Sign In to Start Learning
Students also studied
Browse allSteps in this lesson (17)
Welcome!Today's lesson is all about Ownership. We'll explore different types of business ownership and why they matter. Let's get started!
What is Ownership?Ownership refers to the legal structure of a business and who is responsible for its decisions, debts, and profits. Choosing the right type of ownership is important because it affects how the business runs, who controls it, and its financial risks.
Sole TraderA sole trader is a business owned and run by one person. They have full control and keep all profits, but they also have unlimited liability, meaning they are personally responsible for debts.
Which of the following is true about sole traders?
Start the lesson to answer this multiple choice question
PartnershipA partnership is a business owned by two or more people. Partners share profits, responsibilities, and decisions. However, unless it's a limited partnership, they also share unlimited liability.
Match the items on the left with their correct pairs on the right
Start the lesson to answer this matching question
Private Limited Company (Ltd)A private limited company is owned by shareholders, but shares cannot be sold publicly. It has limited liability, meaning shareholders only lose the money they've invested if the business fails.
What is a key feature of private limited companies?
Start the lesson to answer this multiple choice question
Public Limited Company (Plc)A public limited company sells shares to the public on the stock exchange. It has limited liability, but must follow strict regulations and often has less control over decisions due to many shareholders.
A Plc sells shares to the {{blank0}} and must follow {{blank1}} regulations.
Start the lesson to answer this fill in the blank question
Not-for-Profit OrganisationsNot-for-profit organisations focus on goals other than profit, such as helping the community. Profits are reinvested into their mission rather than shared among owners.
Which of the following are true about not-for-profit organisations? (Select all that apply)
Start the lesson to answer this multi-select question
Review Time!Great work! You've learned about different types of business ownership. Now let's review what you've learned with a few questions.
Which type of ownership allows shares to be sold publicly?
Start the lesson to answer this multiple choice question
Which of the following are features of sole traders? (Select all that apply)
Start the lesson to answer this multi-select question
A partnership is owned by {{blank0}} people who share {{blank1}} and profits.
Start the lesson to answer this fill in the blank question
Match the items on the left with their correct pairs on the right
Start the lesson to answer this matching question
Want to Learn More?
Get personalised lessons, quizzes, and instant feedback from your AI tutor.
Explore More Topics