1.2 Distinctions between small, medium sized and

large businessesLI: Businesses come in many different sizes — small,

medium, large or somewhere in between.

Task You will be presented with a range of businesses. You

must decide whether a small, medium or large business has produced them.

For each item identify:Business Size Justification

ReflectionExamine your justifications for your decisions.

Can you determine any common characteristics that we might use to determine the size of a business?

Characteristics to determine size:

A number of measurements can be used to determine the size of a business, including:the number of employees the number of owners (of the business)market share — the proportion of total market sales

the business has compared to competitorsthe legal structure — for example, is the

organisation set up as a sole trader, partnership or company?

ActivityRead through 1.2 (pg

8 – 10) in your text book.

Complete Test your understanding (pg 10)

Begin your glossary