Economics B A-Level
Unlimited liability
What Unlimited liability means in Economics B A-Level, as defined for Pearson Edexcel.
Definition of Unlimited liability
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Read the wording for your board, then hide it and explain Unlimited liability in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: Pearson Edexcel
Owners are personally responsible for all business debts, so personal assets like their home can be seized to pay creditors if the business fails.
Topics that use Unlimited liability
- Risk and liability (Pearson Edexcel A-Level)
Related terms
Using Unlimited liability in the exam
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