F291 key terms 0.0 / 5 ? Business StudiesClassification of a businessASOCR Created by: georgiarockwoodCreated on: 16-05-16 11:32 Chain of production stages that a product passes through until it reaches the final consumer 1 of 6 private sector businesses owned and run by private individuals - usually for profit 2 of 6 public sector business and organisations owned and run by local or central government whose objective is to provide a service rather than make a profit 3 of 6 entrepreneuer a risk taker who sets up a business organising the business resoirces with aim of making a proft 4 of 6 nationalisation government taking ownership and control of a business ot industry from private investors by buying up all its shares 5 of 6 privatisation the process of selling state-owned industries to the private sector 6 of 6
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