Module 4: Princ. of Business Assessment

Front

What does entrepreneurship refer to?

Back

Creating and managing a business venture

Front

Which of the following is NOT a common business structure? Full Liability Company (“FLC”), Limited Liability Company (“LLC”), Sole proprietorship, Corporation

Back

Full Liability Company (“FLC”) is NOT a common business structure.

Front

What is an organizational structure in a business?

Back

The hierarchical arrangement of roles, responsibilities, and relationships

Front

What is the best definition of a goods business?

Back

A company that primarily produces and sells tangible products.

Front

What is the best definition of demand?

Back

The amount of a good or service that consumers are willing and able to purchase at a given price.

Front

What are producers?

Back

Organizations engaged in the extraction or cultivation of natural resources, providing the fundamental materials for manufacturing.

Front

What is a retailer?

Back

Businesses that sell goods and services directly to consumers.

Front

What is a wholesaler?

Back

Intermediaries that purchase goods in large quantities from manufacturers and sell them in smaller quantities to retailers.

Front

What is trade?

Back

Trade refers to the exchange of goods and services between countries.

Front

Which of the following is NOT a common example of employee rights? Fair pay, Equal opportunities, Safe working conditions, Risky business practices

Back

Risky business practices