Classifying Businesses

What is the main characteristic of a micro business?

• It operates in multiple countries

• It has fewer than 5 employees

• It is listed on the stock exchange

• It requires a government license to operate

Which of the following is an example of a transnational corporation (TNC)?

• A single bakery in a small town

• A national supermarket chain

• A fast-food company with restaurants in multiple countries

• A government-owned postal service

A business that extracts raw materials from the earth belongs to which industry sector?

• Secondary

• Tertiary

• Primary

• Quaternary

Which of the following businesses operates at a national level?

• A local plumber working in one suburb

• A company that has stores across Australia but not overseas

• A technology business that exports software to Europe

• A small family-owned café in one city

What is the key difference between a private company and a public company?

• A private company only sells food products

• A public company allows the general public to buy shares

• A private company must have more than 200 employees

• A public company cannot operate in multiple countries

Which type of business structure is owned and operated by one person?

• Sole trader

• Partnership

• Public company

• Government enterprise

A business that provides IT consultancy services belongs to which industry sector?

• Primary

• Quaternary

• Secondary

• Tertiary

Which of the following is an example of a quinary industry business?

• A coal mining company

• A company that manufactures cars

• A business that provides home-cleaning services

• A restaurant chain

A legal firm is owned by five partners who share profits and responsibilities. What legal structure does it have?

• Sole trader

• Partnership

• Private company

• Government enterprise

Which of the following businesses would NOT be classified as part of the secondary industry?

• A factory that produces clothing

• A company that builds houses

• A restaurant that serves meals to customers

• A business that manufactures paper from raw wood