LRL makes skincare products including face cream. It is a private sector business in country $$$X$$$. One of LRL's objectives is to contribute to sustainable development. Maintaining customer loyalty is important and the Marketing Director knows a business must have an appropriate marketing mix. He is analysing data to calculate the value of LRL's market share. An extract is shown in Fig. 3.1. The total value of sales of skincare products in country $$$X$$$ for 2023 was $$$\$ 120$$$ million. Define 'private sector'. ....................................................................................................................................... ....................................................................................................................................... ....................................................................................................................................... .......................................................................................................................................

Business

IGCSE&ALevel

CAIE

Exam No：0450_w24_qp_13 Year：2024 Question No：3(a)

Answer:

Knowledge points:

1.2.1.1 the primary, secondary, tertiary and quaternary sectors and businesses within those sectors

1.2.1.2 the public and private sectors and businesses within those sectors

1.2.1.3 the reasons for and consequences of the changing relative importance of these sectors

1.2.2.1 the main features of different types of business ownership: sole traders, partnerships, private limited companies, public limited companies, franchises, co-operatives, joint ventures and social enterprises

1.2.2.2 the appropriateness of different types of business ownership

1.2.2.3 the concepts of unlimited liability and limited liability and their importance

1.2.2.4 the advantages and disadvantages of changing from one type of business ownership to another

Answer:

Knowledge points:

Solution:

Related Question