Unit 2 - Review - Business Organization and Management

Unit 2 - Review - Business Organization and Management

9th - 12th Grade

60 Qs

quiz-placeholder

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Unit 2 - Review - Business Organization and Management

Unit 2 - Review - Business Organization and Management

Assessment

Quiz

Business

9th - 12th Grade

Medium

Created by

Billy Lacey

Used 5+ times

FREE Resource

60 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the most important role of businesses in the U.S. economy according to the study guide?

To provide employment to the community

To make and distribute products and services

To generate ideas for new products or services

To raise capital for financial resources

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What must a business do to remain successful, according to the study guide?

Pay higher wages than other businesses

Have the largest buildings and equipment

Improve and develop new ideas to stay competitive

Offer the most benefits to employees

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Where does most of the capital needed to start most businesses come from?

Government grants

Owners' personal savings

Loans from financial institutions or investors

Revenue from sales

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When is there little need for an organizational structure in a business?

When the business is involved in marketing activities

When the business is buying goods and services

When only one person works in the business

When the business has multiple employees

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

At what age do many entrepreneurs own their first business?

In their twenties

In their thirties

In their teens

After retirement

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a common reason for the closure of businesses started by entrepreneurs?

High marketing costs

Lack of adequate capital

Overproduction of goods

Low employee turnover

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How much initial capital do owners report they needed on average to start home-based businesses?

$5,000 or less

$10,000 or less

$50,000 or less

$100,000 or less

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