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NotesBusiness ManagementTopic 1.2
Unit 1 · Introduction to Business Management · Topic 1.2

IB Business Management — Types of business entities

Topic 1.2 covers the different forms of business ownership, including sole traders, partnerships, companies, cooperatives, and social enterprises. Students compare the advantages and disadvantages of each type and learn when different structures are most appropriate.

Exam technique guidePractice questions

What you'll learn in Topic 1.2

  • 1.2.1 Sole traders
  • 1.2.2 Partnerships
  • 1.2.3 Private and public limited companies
  • 1.2.4 Cooperatives
  • 1.2.5 Social enterprises

Exam relevance

Business Management is assessed through Paper 1 (case study) and Paper 2 (structured questions). Expect to apply these concepts to business scenarios using appropriate tools and terminology.

Suggested study order: Read the notes for each sub-topic below → test yourself with flashcards → attempt practice questions → review exam technique.

Study resources — 1.2 Types of business entities

1.2.1

Sole traders

Notes
1.2.2

Partnerships

Notes
1.2.3

Private and public limited companies

Notes
1.2.4

Cooperatives

Notes
1.2.5

Social enterprises

Notes

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Topic 1.2 Types of business entities forms a core part of Unit 1: Introduction to Business Management in IB Business Management. Mastering these concepts will strengthen your understanding of connected topics across the syllabus and prepare you for exam questions that require analysis, evaluation, and real-world application.

Frequently asked questions

What does Topic 1.2 Types of business entities cover in IB Business Management?
Topic 1.2 covers types of business entities as part of the IB BM syllabus. Students learn key business concepts, tools, and frameworks that are assessed in Paper 1 (case study) and Paper 2 (structured questions).
How should I revise Types of business entities for IB Business Management exams?
Start with the micro-topic notes to build understanding, then use flashcards for key terms and formulas. Practise applying concepts to case study scenarios and review how marks are allocated in IB mark schemes.
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