Explanation

Sole proprietorship

• Owned and run by a single individual
• Requires no legal formalities or registration
• Simplest form of business

Explanation

• Commerce = all activities that facilitate the buying & selling of goods/services

Additional information:

• Trade = the buying and selling itself
• Aids to Trade = supporting activities (banking, transport, insurance, advertising, etc.)
• Wholesale Trade = bulk selling to retailers (a type of trade only)

Explanation

Bauxite is the most important ore of aluminum which contains only 30–54% alumina.

The rest is a mixture of silica, various iron oxides,

and titanium dioxide along with trace amounts of zinc, phosphorous, nickel, vanadium etc.