The content is just an excerpt from the complete note for JSS1 Second Term Business Studies Lesson Note – Forms of Business Organization. Check below to download the complete DOCUMENT
WEEK 5
FORMS OF BUSINESS ORGANIZATION
CONTENT:
Forms or types of business ownership
The four forms of business ownership are:
Ownership refers to the individual or organization that brings together the factors of production.
Sub-Topic 1: Meaning of Sole Trade
Meaning: Sole Trade is a business owned by one person. The size of the business may be large or small but it is important to note that it is owned by one man. Examples are restaurants supermarkets, Filing Station, Schools etc. The owner of the business is called a sole trader or a sole proprietor. Another name for sole trade is sole proprietorship.
Advantages and Disadvantages of Sole Trade
Advantages of Sole Trade:
Disadvantages of Sole Trade:
To gain full access to the note: DOWNLOAD FILE
Do you want to study Agricultural Extension in OOU? Before you apply for the OOU…
Do you want to study Agricultural Economics in OOU? Before you apply for the OOU…
Do you want to study Cooperative and Business Management in OOU? Before you apply for…
Do you want to study Home and Hotel Management in OOU? Before you apply for…
Do you want to study Animal Production in OOU? Before you apply for the OOU…
Do you want to study Crop Production in OOU? Before you apply for the OOU…