Intro to Business

NAICS stands for:

• That TV show on NBC

• North American Industry
  Classification System

• National Instant Criminal Background Check System

• Network of International Christian Schools

What is NOT an example of an industry:

• Education

• Technology

• Warehouse

• Real Estate

Can you spot the Non-Profits?

• Crest Neighborhood Market

• Shartel Church of God

• Mid-America Christian University

• Moore Library

A small business is considered one with no more than 1500 employees.

• True

• False

Give an example of a Peer-to-Peer business model:

The following is an example of a sole proprietorship:

• Wal Mart Neighborhood Grocery

• 7-Eleven

• Rachel G.'s Bakery

• OU Urgent Care Hospital

Which are the two most common type of partnerships:

• Limited and General Partnerships

• Limited and Limited Liability Partnerships

• Public and Private Partnerships

• General and Unlimited Partnerships

A Limited Liability Company (LLC) permits owners to form a business while protecting their personal assets.

• True

• False

A business must do all of the following EXCEPT:

• Earn a profit.

• Start with a idea.

• Provide a value to consumers.

• Ignore the business plan.

A type of business that provides commercial activities to a state or county is:

• Goverment

• Manufacturing

• Enterprise

• LLC