Classification of Business

Which of the following is NOT a classification of business based on industry?

• Primary

• Secondary

• Tertiary

• Local

Which of the following is a factor influencing the choice of legal structure for a business?

• Finance

• Primary

• Tertiary

• Quinary

Which method of classifying businesses involves the legal form of the business?

• Size

• Industry sector

• Geographical spread

• Legal structure

Which of the following is NOT a classification of business based on location?

• Local

• National

• Global

• Industry

What does SME stand for in business classification?

• Small to medium enterprises

• Sole to medium enterprises

• Small to major enterprises

• Sole to major enterprises

Which of the following is a classification of business based on legal structure?

• Large

• Global

• Quaternary

• Private company

Market share is the number of employees a business has. True or False?

• True

• False

Which of the following is a qualitative description that helps determine the size of a business?

• The number of employees

• The owner makes most management decisions

• The annual revenue

• The market share

Qualitative descriptions of a business size are based on:

• Financial statements

• Personal observation

• Market analysis

• Employee surveys

What is the typical market share characteristic of large businesses?

• Small market share

• Medium market share

• Large market share

• No market share