Characteristics of Small Business

1. This is one of the characteristic of small business that supplied by an individual or a small group of individuals?

• A. Sole ownership

• B. Limited Investment

• C. Unorganized Labor

2. A characteristic of small-scale businesses is:

• A. Extensive global presence

• B. Serving diverse communities

• C. Being found only in a limited area

3. Which of the following business forms is preferred by small-scale businesses for maximizing managerial control?

• A. Cooperative

• B. Corporation

• C. Sole proprietorship

4. The following characteristic of small business that is generally lower than companies that operate on a larger scale?

• A. Limited Area of Fewer Locations

• B. Local Area of Operations

• C. Lower Revenue

5. This is one of the characteristic of small business that is serve a much smaller area than corporations or larger private businesses

• A. Small Market Area

• B. Local Area of Operations

• C. Labor-Intensive

6. These businesses are not likely to have sales outlets in multiple places or countries, for example. What characteristic of small business is this?

• A. Limited Area of Fewer Locations

• B. Local Area of Operations

• C. Lower Revenue

7. Jenica is planning to start a small-scale business that focuses on providing handmade crafts to customers in her neighborhood. She wants to keep the business operations localized and manageable. Which characteristic of small-scale businesses does Jenica's plan align with?

• A. Local area of operations

• B. Extensive global presence

• C. Large teams of employees

8. Small-scale businesses employ smaller teams of employees than companies that operate on larger scales. What characteristic is this?

• A. Small Market Area

• B. Smaller Teams of Employees

• C. Limited Investment

9. Mike is considering starting his own small business in his local community. He wants to ensure that he has maximum control over managerial decisions and minimal hassle in business registration. Which form of business organization would best suit Mike's preferences?

• A. Corporation

• B. Cooperative

• C. Sole proprietorship

10. This is one of characteristic of small business that is identified with its owners; who themselves act as managers

• A. Limited Investment

• B. Owner-Management

• C. Sole onwership