Chapter 5 Business Organization

People born between 1946 and 1964 are generally referred to as

• bohemiens

• Generation X

• Generation Y

• baby boomers

organizational structure where work is structured around specific projects, products, or customer groups

• limited

• corporation

• marketing

• matrix

About what percentage of U.S. businesses employ more than 100 workers?

• less than 1%

• 5%

• 20%

• 36%

Every business performs all of the following EXCEPT

• maintain business records

• manufacture products

• raise capital

• buy goods and services

Which of the following type of business is NOT a producer?

• a pharmacy

• an appliance factory

• a coal mine

• a chicken farm

a clear reporting relationship for all staff of a business

• unity of policy

• unity of mission

• unity of command

• unity of marketing

Who creates the products and services used by individuals and other businesses?

• service businesses

• producers

• intermediaries

• marketers

Which major category of business is the fastest growing in the U.S. economy?

• producer

• manufacturer

• intermediary

• service business

Which is the easiest form of business to start?

• proprietorship

• corporation

• partnership

• franchise

Of the MAJOR forms of business ownership in the U.S., the most difficult to form is

• proprietorship

• corporation

• partnership

• franchise