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TASBusiness StudiesQuick questions
Business Foundations
Quick questions on Business Environments and Structures - TCE Business Studies (Tasmania)
3short Q&A pairs drawn directly from our worked dot-point answer. For full context and worked exam questions, read the parent dot-point page.
What is the business environment?Show answer
Every business operates inside an environment of forces that influence its choices. These are usually split into the internal, operating (micro) and macro environments.
What is forms of business ownership?Show answer
The legal structure a business chooses affects who owns it, who is liable for its debts, how it is taxed, how it raises finance and whether it continues if an owner leaves.
What are comparing structures?Show answer
When recommending a structure, weigh up: control (sole trader has total control; companies dilute it), liability (companies and co-operatives protect personal assets), access to finance (companies can raise the most), set up cost and regulation (sole trader is cheapest and simplest), and continuity (only incorporated structures survive owner changes).
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