Business Models Flashcard

Front

A business model is how a company sells its products to customers and it's plan for making a __________.

Back

profit

Front

A manufacturer makes finished products from raw materials and is a type of: business ownership, business model, business plan, franchise

Back

business model

Front

A __________ buys products from a manufacturer, distributor, and/or wholesaler and sells directly to the consuming public.

Back

retailer

Front

There are two types of retailers, Bricks-and-Mortar retailers and __________ retailers.

Back

Online

Front

McDonalds and Subway are examples of a __________ business model.

Back

franchise

Front

A furniture factory makes its products from wood and other raw materials. It is called a:

Back

manufacturer

Front

What are some factors to consider when selecting a type of business ownership?

Back

tax liability, the limits or potential liabilities of personal losses, control in operating the business

Front

What type of business has one owner, is easy to get started, where the owner has complete control, and where the owner is personally and fully responsible (liable) for any debts and any other damages that might be caused by the business?

Back

Sole Proprietorship

Front

What type of business has multiple owners, benefits from individuals combining resources, but whose liability isn’t limited to the amount of their investment?

Back

General Partnership

Front

This type of business ownership sells shares to the general public and reports its financial information to the public.

Back

C Corp