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WorksheetsGoods and Services in Business Quiz
Total questions: 14
Worksheet time: 7mins
What is a business?
An activity to make money by producing or buying and selling products.
A non-profit organization.
A type of government entity.
A form of entertainment.
What type of business is owned by one individual only?
Sole Proprietorship
Corporation
Limited Liability Company (LLC)
Partnership
Which type of business is owned by two or more people?
Partnership
Franchise
Sole Proprietorship
Corporation
What is a Limited Liability Company (LLC)?
A non-profit organization
A sole proprietorship
A business structure that combines aspects of partnerships and corporations
A type of corporation
Which type of business is created by shareholders?
Partnership
Sole Proprietorship
Corporation
Limited Liability Company (LLC)
What is a characteristic of goods?
They are usually intangible.
They are always services.
They are usually tangible.
They cannot be sold.
Which of the following is an example of a good?
Pen
Lawn care service
Consultation
Doctor's appointment
What is an example of a service?
Apple
Dentist
Hat
Bag
Which type of business is the simplest?
Limited Liability Company (LLC)
Partnership
Corporation
Sole Proprietorship
What is a key feature of a corporation?
Owned by one individual
Cannot have shareholders
Always a non-profit
More complicated to create
Which business type combines aspects of partnerships and corporations?
Corporation
Franchise
Sole Proprietorship
Limited Liability Company (LLC)
What is the primary goal of a business?
To provide services
To support the community
To create jobs
To make money
Which of the following is NOT a type of business mentioned?
Franchise
Corporation
Partnership
Sole Proprietorship
What is an example of a tangible good?
Consultation
Lawn care
Hat
Medical advice
