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(I have avoided including definitions of both and the negatives to save space)
As a sole trader you are the only person of authority in the business. This means that all decisions made are by you, al...

One benefit that businesses have from having a flat management structure is that it is less likely to have communication issues. This is due to the reason that flat management structures normally have bet...

Protectionism- when a government promotes national entrepreneurship, such as by imposing tariffs and quotas on imports.One benefit is that there would be less competition, as foreign companies would not f...

A wholesaler is an organsiation that buys large quantities of products from the original manufactuerer, they then sell these to other retailers at a lower price due bulk buying. They act as a link between...

Total Fixed Cost (£12,000) Divided by (Revenue per unit[£2.70] - Variable cost per unit[£2.10] = 60p)Break even point = £12,000 divided by 0.6 = 20,000 pens