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Business ownership
Business ownership in AQA GCSE Business 8132 focuses on how real firms make decisions in the business in the real world part of the course. Students should connect key terms to business context, use evidence from case studies, and explain the likely effect on costs, revenue, profit, cash flow, customers, employees, owners, and other stakeholders. Strong revision separates similar concepts, weighs advantages against disadvantages, and uses figures where calculations or financial evidence are relevant. Exam answers should move beyond definitions by applying the idea to a specific business objective and reaching a justified judgement.
5
Objectives
25
Flashcards
25
Questions
90 min
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Syllabus checklist
What you need to know
5 objective pages available
Legal structures2 objectives
- Identify the legal structures available to businesses.
- Explain how sole traders, partnerships, private limited companies, public limited companies and not-for-profit organisations differ.
Benefits, drawbacks and suitability3 objectives
- Analyse benefits and drawbacks of each legal structure, including management and control, sources of finance, liability and profit distribution.
- Explain limited liability and identify which legal structures benefit from it.
- Evaluate suitable legal structures for new start-ups and large established businesses.
Key terms
Exam tips
- Legal structures exam tip 1: Use precise subject-specific vocabulary when you explain how to identify the legal structures available to businesses..
- Legal structures exam tip 1: Use precise subject-specific vocabulary when you explain how to explain how sole traders, partnerships, private limited companies, public limited companies and not-for-profit organisations differ..
Common mistakes
- Legal structures common mistake 1: Answer by clearly explaining how to identify the legal structures available to businesses..
- Legal structures common mistake 1: Answer by clearly explaining how to explain how sole traders, partnerships, private limited companies, public limited companies and not-for-profit organisations differ..
Practice preview
- RiverRun Catering serves health-conscious consumers while cutting delivery times; the case evidence includes cash inflow of ?9,138, sales of 628 units, and a 25% change in costs or demand. Which option best applies Identify the legal structures available to businesses?
- QuickFix Repairs serves commuters while opening a second outlet; the case evidence includes net profit margin of ?8,370, sales of 870 units, and a 7% change in costs or demand. Which option best applies Identify the legal structures available to businesses?
- BeanBarn serves tourists while improving quality control; the case evidence includes average order value of ?5,404, sales of 309 units, and a 17% change in costs or demand. Which option best applies Identify the legal structures available to businesses?
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