What you’ll learn2 learning objectivesChoose one objective for a focused lesson, or study the complete topic.1.2.1Economic sectors• Economic sectors- the primary, secondary, tertiary and quaternary sectors and businesses within those sectors- the public and private sectors and businesses within those sectors- the reasons for and consequences of the changing relative importance of these sectorsSyllabus objective1.2.2Business ownership• Business ownership- 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- the appropriateness of different types of business ownership- the concepts of unlimited liability and limited liability and their importance- the advantages and disadvantages of changing from one type of business ownership to anotherSyllabus objective