1a. Identify two forms of business organisation (other than supermarkets and fish canning) found in the private sector.
Examples: sole trader, partnership, private limited company (Ltd), public limited company (PLC), franchise.
1b. Define 'public sector'.
The part of the economy owned and controlled by the government that provides goods and services.
1c. Outline how the decisions about 'what to produce' and 'how to produce' are made in the private sector of a mixed economy.
Decisions are based on consumer demand (what to produce) and profit motives. Firms decide how to produce based on costs, efficiency, and competition,...
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