Introduction to Business Chapter 5

The service industry is the slowest growing industry in the US economy.

• True

• False

Few businesses are successful for the lifetime of the owner.

• True

• False

The largest current working class that was born from 1946-1964 is called the old timers.

• True

• False

Schools, hospitals. and charities are all examples of intermediary organizations.

• True

• False

The majority of businesses in America are large and have many employees.

• True

• False

Wage rate decrease and more tasks are examples of pressure on employees.

• True

• False

A functional organizational structure is when people work with others who have the same skills.

• True

• False

Advertising agencies and transportation companies are examples of specialized franchises.

• True

• False

A benefit to a corporation is that it is easy to start and you don't have to share the profits.

• True

• False

When you are marketing goods and services, you are advertising to certain groups of people.

• True

• False