The Biggest Wealth Transfer in History is Upon Us: Private Companies

The Biggest Wealth Transfer in History is Upon Us: Private Companies

Assessment

Interactive Video

Business, Social Studies, Religious Studies, Other

7th - 12th Grade

Hard

Created by

Quizizz Content

FREE Resource

The video discusses the concentration of wealth among older individuals, particularly through business ownership and trusts. It explains how trusts are used to manage and transfer wealth, often with specific conditions. The challenges of business succession, especially in family-owned businesses, are highlighted, noting that many do not survive generational transitions. The economic implications of business failures, including job and productivity losses, are examined, emphasizing the need for effective management and taxation strategies.

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5 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one of the main reasons wealthy individuals use trusts?

To avoid paying taxes

To manage and distribute assets with specific conditions

To hide their wealth from the government

To increase their wealth

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a common challenge faced by family-run businesses during succession?

Reducing operational costs

Expanding into new markets

Maintaining the same level of technical proficiency

Finding new customers

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

According to a US Census Bureau study, what percentage of family businesses do not survive the transition from the first to the second generation?

75%

25%

50%

66%

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What percentage of the US's gross national product was made up by family-run small to medium-sized enterprises in 2019?

25%

50%

75%

100%

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a potential consequence of 50% of family businesses failing?

Improved supply chain efficiency

Higher consumer spending

Job losses and productivity declines

Increased tax revenue