Types of Businesses

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​After today's lesson, SWBAT differentiate between type of businesses.

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Open Ended

What types of businesses have we discussed in class so far?

​Now, I am going to ask you a few questions to see what you have learned.

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Multiple Choice

Name the 4 Types of Business:

• franchise, corporation, partnership, sole proprietorship

• sole proprietorship, club, non-profit, franchise

• accounting, marketing, advertising, corporation

• Nike, State Farm, Hobby Lobby, Subway

Multiple Choice

What is a franchise?

• Where a business sells the rights to their brand
• Where you have full control
• Where you keep all the profits

Multiple Choice

True or False:  A Franchisee has total control of their business

• TRUE
• FALSE

Multiple Choice

TRUE or FALSE - The Franchisee can benefit from using the brand name of the Franchise, as well as advertising and marketing

• TRUE
• FALSE

Multiple Choice

Which is NOT a function of a business?

• accounting

• employee benefits

• human resources

• marketing

Multiple Choice

Which is an example of a good?

• television repair

• pedicure

• shoes

• haircut

Multiple Choice

Walmart is an example of a:

• single owner

• partnership

• corporation

• non-profit

Multiple Choice

A father who wants to take his son into the business with him should form a......

• non-profit

• franchise

• corporation

• partnership

Multiple Choice

A disadvantage of a franchise would be....

• having to move

• not enough employees

• too much control

• limited control

Multiple Choice

What type of business does not exist to earn revenue but to help others or serve a need in a community?

• partnership

• corporation

• non-profit

• franchise