U1L1 HW Intro to Bus on Quizizz

What is the primary purpose of a business?

• To produce goods and services

• To satisfy consumer needs

• To make a profit

• To employ people

Which of the following best describes a business?

• An organization that provides free services

• A group that only sells products

• An organization that produces/sells goods and services to satisfy consumer demands

• A company that only focuses on consumer needs without profit

Which of the following is a way to categorize a business?

• Color of the building

• Profit or Non-profit

• Number of employees

• Location of headquarters

Which category involves the type of products a business offers?

• Forms of Business Ownership

• Goods or Services

• Channels of Distribution

• Profit or Non-profit

From the slide deck, what is the revenue from selling the hoodies?

• $200

• $250

• $300

• $550

From the slide deck, how much profit is made from selling the hoodies?

• $200

• $250

• $300

• $550

What type of businesses are classified as "not-for-profit"?

• Charities

• Retail stores

• Restaurants

• Technology companies

How many SMEs are there in the US?

• More than 33 million

• More than 10 million

• More than 50 million

• More than 5 million

What percentage of the American workforce is employed by SMEs?

• 46%

• 36%

• 56%

• 66%

Which of the following is a form of business ownership where a single individual owns and operates the business?

• Partnership

• Corporation

• Sole Proprietorship

• Franchise