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what are Bahrain hotels and British Airways

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There are five essential differences between services and goods. The first is that a service is an intangible process that cannot be weighed or measured, whereas agood is a tangible output of a process that has physical dimensions.

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1) What is the difference between limited and unlimited liability?
2) What is a person who sets up his own business called?
3) State 3 advantages and disadvantages of partnerships

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What is

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1) name three benefits of a limited partnership and what makes a limited partnership different from a regular  partnership?(5)

2) what legal document states each partners rights?

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1)What are the disadvantages of a limited liability company (LLC)?

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What is the difference between a good and a service.

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1) What is the difference between a good and a service?
2)

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1)List the differences between limited partnerships, limited liabilities and limited liability partnerships [3 marks]
2)Are franchises an incorporated business or an unincorporated business?[2]
3)List 2 advantages of franchisees and franchisors?[4]
4)Is a franchisor the same as a branch? Why? [2]

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1)What is a good? [1]
2)What is a service?[1]
3)State the difference between needs and wants.[2]

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1) what is the difference between a need and a want?

2)

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-What skills does an entrepreneur have to have? list 2 [2 marks]

-In your own words, describe what an unincorporated business is. [4 marks]

-What is one risk entrepreneurs face when setting up their business? [2 marks]

-What is another word for an incorporated business? [1 mark]

-What are the risks of owning a small unincorporated business? [2 marks]

-Name an advantage which entrepreneurs have when setting up their business. [3 marks

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Sami:

·         Why is a business objective important for a business to grow?

·         What are some of the main objectives of a private sector business?

·         What are some of the main objectives of a public-sector business?

Osama:

·         What is the difference between an Aim and an Objective in a business?

·         What does SMART stand for in terms of Business Objectives?

·         What is the point of a Mission Statement?

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List three advantages and three disadvantages of a sole trader? [3 marks]

What type of liability does a sole trader have ? [1 mark]

What are the two types of businesses ? [2 marks]

What is another name for a sole trader ? [1 mark]

What do sole traders have to do once their business goes bankrupt [2 marks]

What repercussions does a sole trader have after liquidating their assets? [3 marks]

Answers
What is the difference between a good and a service ?- A good is a product for example an Iphone or a Car. A service is anything done by an individual or group for example a car wash or a massage is a service

What is the difference between a need and a want ?
A need is something that you need desperately to survive for example food water clothes (not expensive)
A want is something that you don't need to survive for example video games,

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Questions:
What are limited companies?
What are joint ventures?
What does floating mean in market terms?

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1) What is the difference between limited and unlimited liability?
2) What are people who set up businesses called?
3)

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Salem:
1) 2 Differences between Limited and Unlimited liability? (4)
2)What are joint ventures?(2)

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!) What is the difference between a good and a service?
2) What is the difference between a need and a want?

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Syed: Chapter 4- Limited Liability Companies

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Syed: Chapter 4- Limited Liability Companies

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State 3 advantages and 3 disadvantages of a Public Limited Company.

State 3 advantages and 3 disadvantages of a Private Limited Company.

What Is the difference between a Public Limited Company and a Private Limited Company?

What is a Limited Liability Company?

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Julien’s questions:

1.  Evaluate whether it’s is good for a
franchisee to open a franchise [6]

2.  List two advantages and two
disadvantages for a franchisor to open a franchise [4]

3.   Describe what a deed of partnership and state some of it’s clauses [3]

4.   State the difference between and incorporated and unincorporated businesses [2]

5.   What is a franchise? [1]

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1) What are the SMART objectives?
2) What's the purpose of MISSION STATEMENT?
3) What are the advantages and disadvantages of partnership?