were two forms of government‚ absolutism and democracy. Absolutism is when a ruler has unlimited power. A democracy is a form of government in which every person can participate in. Many rulers had a democratic government‚ but absolutism was more beneficial to the rulers because it gave them all the power. Absolutism was considered the most effective government during the time by giving the rulers unlimited power. Machiavelli‚ who wrote The Prince‚ felt that the best way to rule was to be feared
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shares not freely negotiable | Members have limited liability for the company’s debts | Shareholders can appoint skilled directors | It does not need to hold statutory meetings | Unlimited continuity | Shares can freely be traded | Unlimited continuity | No requirements for meetings and financial statements | Unlimited continuity | | Taxation issues | Taxed at fixed rate – members not taxed on their profit share | Company and shareholders are taxed | Taxed at a fixed rate.At the moment dividends
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2. Capital Contribution In sole tradership‚ the capital is employed by the owner himself from his personal resources. He may also borrow capital from his friends‚ relatives and financial institutions. 3. Unlimited Liability The liability of the proprietor for the debts of the business is unlimited. The creditors have the right to recover their dues even from the personal property of the proprietor in case the business assets are not sufficient to pay their debts. 4. Enjoyment of Entire Profit The
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Advantages of Acquiring an Ongoing Business 1. Already operational normally leads to success 2. The time and effort to start a new venture is eliminated 3. Possibility of buying an on going venture @ bargain price The next step 1. Business environment 2. Profits‚ Sales & Ratios 3. Business Assets ( Inventory‚ equipment‚ trademarks‚ goodwill) Questions 2 Ask 1. Why is the business being sold? 2. What is the current state of the business? 3. What is the current condition of the inventory
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partnership. I will study all the advantages and disadvantages of sole trader and a partnership business. Finding: Advantages of a sole trader Disadvantages of a sole trader Easy to setup and to run- not many forms to be filled in. Unlimited liability- If the business is bad then it is possible for the owner to lose everything they own. All profits go to the owner- he/she themselves. Lack of continuity- The business could be sold by the owner or it could be passed onto their
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Standards/Elements addressed by the Unit 1 test: SSEF1 The student will explain why limited productive resources and unlimited wants result in scarcity‚ opportunity costs‚ and tradeoffs for individuals‚ businesses‚ and governments. a. Define scarcity as a basic condition that exists when unlimited wants exceed limited productive resources. b. Define and give examples of productive resources (factors of production) (e.g.‚ land (natural)‚ labor (human)‚ capital (capital goods)‚ entrepreneurship)
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following are the various kinds of partners. 1. General partners 2. Special partners3. Others partners 1. General Partners: Partners who take active part ion the business of the firm are known‚ as general partners. The liability of such partners is unlimited in the firm. These partners are of two types. (a) Active Partner: A general partner who takes active part in the day-to-day affairs of the business is known as Active Partner. It is also termed as working or managing partner. (b) Dormant or Sleeping
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FEATURES 1. Formation and Closure – Hardly any legal formalities are required to start. But in some cases licence might be required. Closure can be done easily. Hence it is easy to form and close the business 2. Liability- They have unlimited liability. The owner is responsible to pay the debts. But‚ in case the assets of the business are not sufficient to meet the requirement‚ he has to sell his personal assets to repay all his debts. 3. Sole Risk Bearer & Profit Recipient- The
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of these factors of production is paid by business e.g. The payment for land is rent Can you think what we call the payments for the other factors? Labour Capital Entrepreneurs wage/salary interest profit Real Economic Problem Unlimited Wants + Limited Resources = Scarcity Limited Resources: Choice Individual Business Government Summary – Economic Problem Limited Resources Production 200 years ago 1 2 Joe cuts the wood He assembles the table 3 Joe polishes the table
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“Fly Emirates. Hello‚ Tomorrow.” Have any one of you heard of this slogan from the TV before? Good morning teacher and fellow students. Today I am here to introduce the advertisement I have nominated for the Annual Best of the Best TV Advertising Awards‚ organized by The Hong Kong Chamber of Commerce. “Hello‚ Tomorrow” is the slogan of the latest advertising campaign from the Emirates Airline. Emirates‚ the Dubai-based international airline‚ is one of the world’s most successful and rapidly-expanding
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