pg 27-64 Flashcards
(22 cards)
limited companies
business or organisations that have a separate legal identity from that of their owners
limited liability
shareholders are legally responsible for the debts of a company according to how many shares they own
chair person
someone who is in charge of a meeting or directs the work of a committee or organisations
private limited company (Ltd)
When only the individual, or group, and family and friends can own shares on the business
stock market
market for shares in PLCs
public limited company (PIC)
limited company who’s shares are freely sold and traded
prospectus
document produced by a company that wants the public to buy its shares
regulatory control
official power to control an activity and to make sure that it is done in a satisfactory way
flotation
process of company ‘going public’
issue(shares)
sale of new shares
productivity
rate at which goods are produced and amount produced
public corporations
business organisations owned and controlled by the state/government
portfolio
collection
infrastructure
basic systems and structures that a country or organisation needs in order to work properly
natural monopoly
one organisation meeting total market demand
subsidise
paying part of the costs
privatisation
transfer of public sector resources to the private sector (business)
primary sector
production involving the extraction of raw materials from the earth
secondary sector
production involving the conversion of raw materials into finished/semi finished goods
tertiary sector
production of services in the economy
assembly plant
factory where parts are put together to make a finished product
de-industrialisation
decline in manufacturing
