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BTEC BUSINESS UNIT 1 Comprehensive Questions (Frequently Tested) with Verified Answers Graded A+

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BTEC BUSINESS UNIT 1 Comprehensive Questions (Frequently Tested) with Verified Answers Graded A+

Institution
BTEC Business
Course
BTEC Business








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Institution
BTEC Business
Course
BTEC Business

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Uploaded on
August 10, 2025
Number of pages
3
Written in
2025/2026
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Exam (elaborations)
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BTEC BUSINESS UNIT 1
Comprehensive Questions
(Frequently Tested) with
Verified Answers Graded A+
Business - Answer: An organisation or economic system where goods & services are exchanged
for money.



Private sector - Answer: the part of the economy that involves the transactions of individuals
and businesses



Public sector - Answer: the part of the economy that is controlled by the government



Not for profit sector - Answer: A business dedicated to furthering a particular social cause or
advocation for a shared point of view



Sole trader - Answer: A business in which one person provides the permanent finance and, in
return, has full control of the business and is able to keep all of the profits



Partnership - Answer: a business organization owned by two or more persons who agree on a
specific division of responsibilities and profits



Private limited company - Answer: A business owned by shareholders with limited liability but
whose shares cannot be bought by or sold to the general public.

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