Final Business Decisions

Which option involves joining a business that is already owned by relatives?

• Entering a family business

• Starting a new business

• Opening a franchise

• Purchasing a competitor's business

What is a legal agreement that allows someone to market a company's products or services?

• Partnership

• Franchise

• Merger

• Acquisition

Which of the following is NOT mentioned as an entrepreneur option in the diagram?

• Purchasing an existing business

• Entering a family business

• Opening a franchise

• Investing in real estate

Which of the following is NOT a characteristic of a partnership?

• Single ownership

• Shared profits and losses

• Contribution of money, property, labor, or skill

• Two or more people share ownership

Which type of business ownership involves two or more people sharing ownership?

• Sole Proprietorship

• Partnership

• Corporation

• Franchise

What is a corporation?

• A type of partnership

• An independent legal entity owned by shareholders

• A sole proprietorship

• A government agency

Which of the following is NOT listed as a potential business location in the text?

• Shopping Malls

• Beaches

• Warehouses

• Virtual

What is the primary consideration when choosing a business location?

• Proximity to competitors

• Accessibility for the target market

• Availability of parking

• Local tax rates

Which of the following is a step in creating your building design?

• Install solar panels

• Create a floor plan

• Hire a marketing team

• Purchase insurance

Which step involves ensuring the building is appealing to customers?

• Set up building

• Create an appealing atmosphere for your customers

• Take measurements

• Draw a floor plan