Classification of Business Quiz

Which of the following describes a business with a local geographical spread?

• It operates in multiple countries.

• It primarily serves customers in a specific suburb or town.

• It has locations in every state of Australia.

• It sells products online only.

A company that operates in several countries, adapting its products to suit local tastes, would be classified as:

• A domestic business.

• A global business.

• An international business.

• A national business.

Which industry sector is primarily involved in the extraction of natural resources?

• Quaternary

• Secondary

• Primary

• Tertiary

Manufacturing falls under which industry sector?

• Primary

• Secondary

• Tertiary

• Quinary

Providing legal advice is an example of a business operating in the:

• Primary sector.

• Secondary sector.

• Tertiary sector.

• Quaternary sector.

Research and development are characteristic of which industry sector?

• Primary

• Secondary

• Tertiary

• Quaternary

Which industry sector focuses on providing domestic services?

• Quaternary

• Quinary

• Primary

• Secondary

Which of the following legal structures gives the owner(s) the most control?

• Private company

• Partnership

• Sole trader

• Public company

In which legal structure are the owners personally liable for the debts of the business?

• Public company

• Sole trader

• Private company

• Government enterprise

Which legal structure is owned by shareholders?

• Partnership

• Sole Trader

• Company

• Trust