Business Unit 2 Quiz

What are the four main types of business ?

Which type of business is typically formed for non-profit purposes?

• Sole trader

• Partnership

• Public limited company (Plc)

• Not-for-profit

Which type of business structure is owned and operated by a single person?

• Partnership

• Public limited company (Plc)

• Ltd

• Sole trader

Which type of business primarily aims to provide goods or services to customers in order to make a profit?

• Not-for-profit

• Public limited company (Plc)

• Ltd

Which type of business is primarily concerned with social and ethical goals rather than making a profit?

• Sole trader

• Partnership

• Plc

• Not-for-profit

What are some external factors that may affect a business? (Choose three)

• Economic conditions

• Government regulations

• Competition

• Business structure

What is meant by a business structure?

• The physical layout of a business

• The legal framework within which a business operates

• The organizational chart of a business

• The marketing strategy of a business

How might a business structure be organized? (Choose two)

• By size

• By industry

• By location

What are the purposes of a business ? (Choose three)

• To make a profit

• To provide goods and services

• To ensure social responsibility

• To organize resources and activities

What are the key steps of a business planning process? (Choose three)

• Conduct market research

• Develop a marketing strategy

• Establish financial goals

• Hire employees