Some explainations!(1)

When you do some exams in some questions you need to explain the word at first!
But some of them you might don’t know, there explainations maybe give you some help!

PRIMARY RESEARCH(field): first-hand information that is related directly to a firm’s need

SECONDARY RESEARCH(desk):information collected from second-hand sources. Can provide information on market size and market trend

MARKET SIZE:the total sales of all the producers within a market-place measured either by volume or value

Market niche:a small range market

Franchise:A business base on the name,logo and trading method of an existing successful business.
To obtain a franchise requires payment of an initial fee

PRIVATE LIMITED COMPANY:
A small to median-sized business that is usually run by family that owns it.

(ALL THERE FROM A-Z BOOK!)

drawback of private limited company:
the ertrepreneur no longer owns all of the business-they have to give the shareholders a share of the profit,and they also have to give them a say in how the business is run!(from revision guide)