Quiz 3

What type of an economic system does Maldives have?


A sole trader is a small business owned and usually managed by a single person.


In which type of a business organization is the business secrecy the easiest to maintain?


Specialization and economies of scale are easy in sole proprietorships.


Which of the following is a business organization in the public sector of the economy?


Liabilities of sole trader is unlimited. Therefore it is a big advantage for him.


What is the maximum number of owners in a partnership?


A partnership can usually raise a bigger capital than a sole proprietorship.


Which of the following is an advantage of partnership?


The limited companies are called so because the liability of the owners are limited to the amount of shares they hold in that particular company.


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