2. BUSINESS
A BUSINESS is just a small portion of
an industry.it is an under taking by a
person or group of persons who are
partners. Its main objective is to earn
profit for the owners
3. FOUR TYPES OF BUSINESS
SOLE PROPRIETORSHIP
PARTNERSHIP
COOPERATIVE
CORPORATIO
4. SOLE PROPRIETORSHIP
A business owned manage & controlled
by a single individual is known as Sole
Proprietorship. It is also trader.
5. PARTNERSHIP
Is an agreement in which two or more
persons combine their resources
in a business with a view to making profit.
6. TWO TYPES OF PARTNERSHIP
GENERAL PARTNERSHIP
All owners share the management and
each is personally responsible for and
must assure the consequence of
actions of the other partner.
LIMITED PARTNERSHIP
Some members are generally partners
who control and manage the business
and may be entitled to a greater share
of business profit.
7. COOPERATIVE
Is an entity or organized by people
with similar needs to provide
themselves with goods or services or
for jointly use available resources to
improve their income.
CORPORATION
8. CLASIFICATION OF BUSINESS
BELOW 1500 –MICRO ECONOMICS
1500-15000-SMALL BUSINESS
15000-60000-MEDIUM BUSINESS
ABOVE -60000-LARGE BUSINESS
