Understanding Business Types and Concepts
Authored by Kia Owens
Computers
8th Grade
Used 4+ times
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30 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of business is owned and operated by one individual?
Corporation
Sole Proprietorship
Partnership
Franchise
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main purpose of a business?
To entertain people
To make a profit by satisfying needs and wants
To create laws
To provide free services
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of a good?
Haircut
Car
Insurance
Teaching
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A business that is legally separate from its owners is called a:
Partnership
Corporation
Sole Proprietorship
Franchise
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which term describes something people desire but do not need to survive?
Goods
Needs
Wants
Services
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A business owned by two or more people who share its risks and rewards is a:
Franchise
Partnership
Corporation
Sole Proprietorship
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following best describes a franchise?
A business owned by shareholders
A business owned by one person
A business that sells the rights to use its name and sell its products
A business owned by the government
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