← CSEC Principles of Business lessons

1.5 - 1.6 - Private vs Public Sectors + Forms of Business Organisation

⭐ +730 XP
  • ✓differentiate between the private and public sectors
  • ✓explain what an economy is and how sectors support economic activity
  • ✓explain privatisation and nationalisation and why governments use them
  • ✓describe forms of business organisation
  • ✓explain unlimited and limited liability
  • ✓compare advantages and disadvantages of each form of organisation
⏱ 0 mins🎯 146 marks
💡Engage
Picture this: A government announces that a state-owned bus company will be sold to private investors. At the same time, a student entrepreneur wants to open a weekend smoothie business. Both situations involve decisions about ownership, control and responsibility.
💡Engage
💡Engage

Write down TWO businesses you know that are owned by individuals/families. Write down ONE service you think the government provides (or controls) in your territory. Which one do you think is more focused on profit? Which one is more focused on public service?

💡EngageQuestion 12 of 61

Predict: which statement do you think best describes economy?

0 / 1 marks
💡Engage
Picture this: A government announces that a state-owned bus company will be sold to private investors. At the same time, a student entrepreneur wants to open a weekend smoothie business. Both situations involve decisions about ownership, control and responsibility.
1 / 4

← swipe to move between steps →

0%
Lesson progress0 / 146 marks
✓ 0 correct✕ 0 mistakes0 / 61 answered

Let's get started, you've got this! 💪

Next: 1.7 - Types of Economic Systems →
View all topicsNext: 1.7 - Types of Economic Systems →