Understanding Business Functions

Which of the following is NOT one of the four main functions of a business?

• Production

• Finance

• Marketing

• Innovation

Businesses are built around four main functions. Which function is responsible for promoting and selling products or services?

• Production

• Finance

• Marketing

• Management

What is the process of creating, growing, manufacturing, or improving products or services called?

• Consumption

• Distribution

• Production

• Marketing

A marketplace can also exist in a customer's ______.

• Garage

• House

• Office

• School

Businesses are categorized by ______.

• Profit orientation

• Size

• Product

• Market

What is the maximum number of employees that small businesses usually have?

• 50

• 100

• 150

• 200

Small businesses employ ___ percent of all private (nongovernment) workforce.

• 47

• 53

• 60

• 75

Which of the following is a characteristic of big businesses?

• Usually have less than 50 employees

• Are usually local

• Can be divided into many different departments

• Operate only in one country.

Big businesses usually have more than ___ employees.

• 50

• 100

• 200

• 500

Big businesses are usually national or ___.

• local

• regional

• global

• domestic