Junior Starups - Lesson 01 - Intro to business

What is a business?

• A business is an organization that provides goods or services to customers for profit or other objectives.

• • A business is always a charity that gives products away for free.

• • A business is only a physical building with no operations or goals.

• • A business is a government institution that collects taxes.

What is the purpose of a business?

• • To solve every social problem without making any money.

• To generate profit by meeting customer needs or providing value.

• • A business exists only to create advertisements and not sell anything.

Are all businesses the same?

• No, businesses differ in size, structure, goals, and industries.

• Yes, every business is exactly the same regardless of industry.

• All businesses must sell identical products to operate.

• Businesses are only defined by their number of employees.

What do you need to open a business?

• • You only need a laptop and internet access; no planning is necessary.

• You typically need a business plan, funding, and registration or licensing to open a business.

• • You must have at least 1,000 employees before starting a business.

Are all businesses good?

• Yes, all businesses always benefit society equally.

• No, not all businesses are good; some may engage in unethical or harmful practices.

Do you need an education in business to open one?

• • Yes, without a degree in business, you cannot legally open one.

• No, an education in business can help, it’s not mandatory to open a business.

A local business is a ______?

• A business that operates within a specific geographic area or community, typically serving nearby customers.

• A business that operates in every country in the world.

• A business that only exists online and has no physical presence.

• A business that sells only to the government.

A national business is a ______?

• A business that focuses exclusively on tourism.

• A business that only trades with other countries.

• A business limited to one small neighborhood.

• A business that operates across an entire country, serving customers nationwide.

A global business is a ______?

• • A business that only exists in its founder’s home country.

• A business that operates in multiple countries, often serving international markets.

• • A business that works only for local communities.

• • A business that only uses products made in one region.

A global business operates in multiple countries and often serves international markets.

• True

• False